Aotearoa / New Zealand

1643 readers

41 users here now

Kia ora and welcome to !newzealand, a place to share and discuss anything about Aotearoa in general

For politics , please use [email protected]
Shitposts, circlejerks, memes, and non-NZ topics belong in [email protected]
If you need help using Lemmy.nz, go to [email protected]
NZ regional and special interest communities

Rules:

Don't be a dick

FAQ ~ NZ Community List ~ Join Matrix chatroom

Banner image by Bernard Spragg

Got an idea for next month's banner?

founded 1 year ago

MODERATORS

[email protected]

Reserve Bank leaves official cash rate at 5.5% (www.rnz.co.nz)

submitted 1 year ago by [email protected] to c/[email protected]

13 comments fedilink hide all child comments

"The Reserve Bank stuck to the script and left the official cash rate unchanged at 5.5 percent, confirming an end to its 21-month tightening campaign"...

"It said inflation, currently at an annual rate of 6.7 percent, was expected to keep falling as would inflation expectations, with a slowing global economy, an easing in supply chain disruptions, cooler labour and housing markets"...

"It estimated that inflation would be back in the target band in the second half of 2024"...

"We don't expect OCR cuts until May next year, give or take"

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 5 points 1 year ago* (last edited 1 year ago)

This was the expected outcome, last time to said they had "done enough" WRT rate rises.

5.5% for a year will hurt just a little, but that should be eased a little by inflation pulling back. And way less than inflation continuing to escalate without income raised to keep up.

Edit: got to check the autocorrect more closely when posting from my phone.