Minutes from the Reserve Bank of New Zealand meeting:
-
Committee noted inflation is still expected to decline within the
target band by the second half of 2024 - Committee agreed
that the risks around the inflation projection remain balanced - Committee noted that
the estimate of the nominal neutral OCR has increased by 25 basis
points to 2.25% within the projections, consistent with the Reserve
Bank’s indicator suite
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Earlier:
Still to come is RBNZ Governor Orr’s press conference due at 0300 GMT, 11pm US Eastern time.