NZD RBNZ Monetary Policy Statement
It provides valuable insight into the bank's view of economic conditions and inflation - the key factors that will shape the future of monetary policy and influence their interest rate decisions;
In this report the RBNZ is mandated to include details on how they will achieve their inflation targets, how they propose to formulate and implement monetary policy during the next five years, and how monetary policy has been implemented since the last statement's release;
- History
Expected Impact / Date | Description |
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May 21, 2024 | |
Feb 27, 2024 | |
Nov 28, 2023 | |
Aug 15, 2023 | |
May 23, 2023 | |
Feb 21, 2023 | |
Nov 22, 2022 | |
Aug 16, 2022 | |
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- NZD RBNZ Monetary Policy Statement News
- From rbnz.govt.nz|May 21, 2024|3 comments
Restrictive monetary policy has reduced capacity pressures in the New Zealand economy and lowered consumer price inflation. Annual consumer price inflation is expected to return to within the Committee’s 1 to 3 percent target range by the end of 2024. The welcome decline in inflation in part reflects lower inflation for goods and services imported into New Zealand. Globally, consumer price inflation has declined from 30-year highs in many advanced economies. However, services inflation is receding slowly, and expected policy interest ...
- From interest.co.nz|May 20, 2024|2 comments
As we approach a year since the Reserve Bank (it was May 24, 2023), somewhat surprisingly, called a halt to its extremely bracing cycle of Official Cash Rate hikes, we can say with every confidence that the forthcoming OCR decision will be another 'hold'. There's been nothing since the last review in April to change the RBNZ's mind on keeping the OCR unchanged. But while it is the safest of safe bets that the OCR will remain on 5.5% after the latest review on Wednesday, May 22, there will be much interest and intrigue around what the ...
- From bnnbloomberg.ca|May 19, 2024
New Zealand’s dollar is poised to extend recent gains and rally toward its March high as concern over elevated inflation damps expectations for interest-rate cuts this year. The kiwi climbed to the strongest level in two months last week, breaking out of the downtrend it’s been in since the start of 2024. The currency may get another boost on Wednesday if the Reserve Bank of New Zealand pushes back against market forecasts for policy easing by year-end. Swaps traders are pricing in 47 basis points of RBNZ rate cuts this year, aided ...
- From think.ing.com|May 18, 2024
The Reserve Bank of New Zealand is widely expected to maintain the official cash rate (OCR) at 5.50% at the upcoming 22 May meeting, so the focus will be on new economic projections and forward-looking language. The RBNZ differs from other developed central banks in that it announces policy less frequently and can only rely on quarterly inflation and jobs data, which can ultimately lead to rapid changes in policy direction from the RBNZ. However, the latest indications from the New Zealand economy and modest expectations for Fed ...
- From xm.com|May 17, 2024
Will CPI report bring BoC nearer to a rate cut? Inflation data will dominate the economic agenda once again in the coming week as CPI numbers are due in Canada, Japan and the United Kingdom. The Canadian figures are up first on Tuesday. Prior to that, it will be an unusually quiet start to the week as several markets will be closed on Monday. Price pressures appear to be on the wane again in Canada after the downward trend in the various CPI metrics flatlined in the second half of 2023. The underlying gauges – CPI trim, median and ...
- From westpac.co.nz|May 14, 2024
We expect the RBNZ will leave the OCR at 5.5% at its May Monetary Policy Statement. • The RBNZ will likely remain comfortable with the forward outlook communicated in the February Monetary Policy Statement. • We don’t see a significant change in the RBNZ’s projections for the OCR – easing still looks like a 2025 affair. • Weaker than expected GDP growth and numerous indications of a flat economy should trigger a downward adjustment in the 2024 growth profile. • But the inflation outlook remains challenging as a non-tradables driven ...
- From nasdaq.com|Feb 28, 2024
The New Zealand dollar slid on Wednesday after the country's central bank held rates steady and trimmed its projected path for future policy, sparking a rally in bonds as markets sharply scaled back the risk of further hikes. The Reserve Bank of New Zealand (RBNZ) kept its official cash rate at 5.5% as most analysts had expected and reiterated policy would have to remain restrictive. However, the RBNZ also noted risks to the inflation outlook had become more balanced and lowered its forecast peak for rates to 5.60%, from 5.70%. "The ...
Released on May 21, 2024 |
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Released on Feb 27, 2024 |
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