New Zealand Central Bank Lowers Benchmark Interest Rate
MPC Achieves Strong Confidence in Stability
The Monetary Policy Committee has achieved a high level of confidence in the stability of the economy.
Inflation Expected to Remain Near Mid-Point
Consumer price inflation is projected to remain close to the target mid-point over the foreseeable future.
Monetary Conditions to Tighten
To maintain stability, the committee agreed that monetary conditions need to be tightened.
Reserve Bank Governor Confident in Inflation Reduction
The Reserve Bank governor expressed confidence in the decline and sustained low level of inflation.
Restrictive Monetary Policy Reducing Domestic Demand
The committee acknowledged that New Zealand's restrictive monetary policy is successfully reducing domestic demand.
Benchmark Rate Slashed
On August 14, the central bank lowered its benchmark interest rate for the first time in a decade.
Measured Reduction Towards Neutrality
The central bank aims to reduce interest rates gradually towards a more neutral setting.
OCR Held Unchanged at 5.5%
The Reserve Bank has maintained the Official Cash Rate unchanged at 5.5%, citing falling inflation as a factor.
تعليقات