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RBNZ April 2024 Monetary Policy Review
The RBNZ left the OCR at 5.5% as expected. • The record of the meeting states that the risks to the outlook were viewed as “little changed” since the February Statement. • The minutes noted the potential for a more flexible approach once inflation returns to the target range and when inflation expectations and pricing intentions are no longer elevated. • The RBNZ’s monetary policy strategy looks unchanged, implying the OCR will remain at 5.5% until 2025 – in line with Westpac’s forecasts. The RBNZ is staying the course. • We continue to forecast the OCR to remain at 5.5% in 2024 and be reduced from ... (full story)