RBNZ keeps the OCR unchanged at 5.50% as expected, while it noted that a restrictive monetary policy stance remains necessary to further reduce capacity pressures and inflation

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RBNZ Minutes:

Reaction details (03:11)

Analysis details (03:16)

RBNZ kept the OCR unchanged at 5.50% which was unanimously expected, while it kept to its hawkish-leaning tone as it stated that a restrictive monetary policy stance remains necessary to further reduce capacity pressures and inflation with the committee confident that maintaining the OCR at a restrictive level for a sustained period will return consumer price inflation to within the 1%-3% target range this calendar year. RBNZ Minutes also noted that a further decline in capacity pressure is expected which supports an ongoing decline in inflation and members agreed that there remains limited tolerance to an increase in the time to achieve the inflation target while inflation remains outside the target band and while inflation expectations and pricing intentions remain elevated.

10 Apr 2024 - 03:00- Fixed IncomeData- Source: Newswires

InflationMonetary PolicyFixed IncomeRBNZCentral BankNew ZealandBusiness ConfidenceNZD/USDForexNZDDataUSDUnited StatesAsian SessionImportant

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