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RBNZ October 2024 Monetary Policy Review
Today the RBNZ cut the OCR by 50bps to 4.75%, meeting Westpac and market expectations. • According to the RBNZ the economy is now in a position of excess capacity, encouraging price- and wage-setting to adjust to a lowinflation economy. • Economic activity was described as “subdued”, with business and consumer spending “weak” and employment conditions continuing to “soften”. That weakness was partly ascribed to restrictive monetary policy. • The MPC agreed that a 50bp easing was most consistent with meeting the inflation target and avoiding unnecessary instability in output, employment, interest ... (full story)
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- Posted: Oct 10, 2024 10:11pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,153
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