Following its July monetary policy meeting on Wednesday, the Reserve Bank of New Zealand (RBNZ) is set to hold the Official Cash Rate (OCR) at 5.50%, extending the pause into an eighth meeting in a row.
The Reserve Bank of New Zealand is expected to keep rates on hold at 5.50% on Wednesday. Upside risks to inflation to offset economic concerns, prompting RBNZ to delay any dovish shifts. The New Zealand Dollar gears up for intense volatility on the RBNZ policy announcements. Following its July monetary policy meeting on Wednesday, the Reserve Bank of New Zealand is set to hold the Official Cash Rate at 5.50%, extending the pause into an eighth meeting in a row.
Qs What is the Reserve Bank of New Zealand? The Reserve Bank of New Zealand is the country’s central bank. Its economic objectives are achieving and maintaining price stability – achieved when inflation, measured by the Consumer Price Index , falls within the band of between 1% and 3% – and supporting maximum sustainable employment.
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