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Monetary Policy Statement and OCR
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The current level of interest rates is constraining spending and hence inflation pressure, as anticipated and required. The Committee agreed that the OCR needs to stay at restrictive levels for the foreseeable future to ensure annual consumer price inflation returns to the 1 to 3% target range, while supporting maximum sustainable employment. The New Zealand economy is evolving broadly as anticipated. Activity continues to slow in parts of the economy that are more sensitive to interest rates. Labour shortages are easing as overall demand softens and immigration adds to labour resources. Headline inflation and inflation expectations have declined, but measures of core inflation remain too high. Globally, economic growth remains below trend and headline inflation has eased for most of our trading partners. Core inflation remains high in many countries. Weakening global economic growth is putting downward press post: RBNZ Gov Orr: Raising OCR Track Is Not Forward Guidance - Raised OCR Track Is Not Strong Signal On Next Move post: RBNZ Gov Orr: Wary About Doing Too Much On Rates - Risks In Next Few Months Are Activity Could Be Stronger Than Projected - Not Much Discussion Of A Rate Cut, Steady Consensus Was Easily Formed
The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months ...
Stronger than expected US Retail Sales data added to rest of the world-driven weakness in US equities at the open and which haven’t recovered since, all the mainboard indices ...
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- Posted: Aug 15, 2023 11:02pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,409
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