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Monetary Policy Statement August 2021
The Monetary Policy Committee agreed to retain the current stimulatory level of monetary settings, keeping the Official Cash Rate (OCR) at 0.25 per cent for now. Today’s decision was made in the context of the Government’s imposition of Level 4 COVID restrictions on activity across New Zealand. The Committee will assess the inflation and employment outlook on an ongoing basis, with a view to continue to reduce the level of monetary stimulus over time so as to best meet their policy remit. This follows the recent halting of additional government bond purchases under the Large Scale Asset Purchase (LSAP) programme ... (full story)
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#RBNZ statement:
— DailyFX Team Live (@DailyFXTeam) August 18, 2021
- Projections show rates rising from Q4 2021, decision to hold off this time reflects new #Covid restrictions
- Discussed rate hike merits, decided to keep cash rate unchanged given heightened uncertainty#NZD
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