Announcement and summary of statement is here:
From the minutes to the meeting, Headlines via Reuters:
-
Committee agreed that monetary conditions are restricting spending
and reducing inflationary pressure as anticipated - Committee agreed
that interest rates will need to remain at a restrictive level for
the foreseeable future - Inflation remains
too high - Committee noted that
monetary conditions have continued to tighten - Committee noted
inflation is still expected to decline within the target band by the
second half of 2024 - Monetary policy in
new zealand reached a more restrictive level earlier than in many
other economies - Recent data suggest
that tight monetary conditions are constraining domestic spending as
expected - Employment remains
above its maximum sustainable level, however recent indicators
suggest that labour market conditions are easing - Labour shortages
have started to ease, partly in response to the recent arrival of
more migrants
NZD/USD coming off a little after its earlier rise: