The Reserve Bank of New Zealand (RBNZ) has decided to maintain its Official Cash Rate (OCR) at 5.5% for the fifth consecutive meeting, aligning with market expectations and previous rates. This decision was announced amidst discussions on the economic outlook, with the central bank signaling the potential need for rate hikes in the future due to inflation concerns. However, Governor Adrian Orr noted that the current data supports a slowing inflation trend, leading to the decision against a rate hike at this time. Orr also emphasized the importance of cautious borrowing, advising the market to avoid excessive debt. The RBNZ's stance comes with a warning of a possible mild recession as a measure to control inflation, indicating a less hawkish policy track moving forward.
RBNZ Governor Adrian Orr has a message for the market: “Be careful…engage the brain before you over-indulge in debt.” Governor Orr says the cash rate will stay at 5.5% this year; markets still pricing two cuts @BloombergTV @BloombergAsia https://t.co/I4kQ5qXgue
New Zealand central bank governor Adrian Orr said policymakers decided against raising interest rates this week because latest data confirmed that inflation is slowing https://t.co/aAwApvoggE
🔴 RBNZ'S GOVERNOR ORR: THE OCR NEEDS TO STAY WHERE IT IS THIS CALENDAR YEAR.
The Reserve Bank of New Zealand today held its cash rate at 5.5 per cent, with Governor Adrian Orr saying inflation and the economy are tracking in an expected manner. https://t.co/93T5OQUV5j
NZ central bank holds rates, flags less hawkish policy track https://t.co/xUcLmv33Yx https://t.co/Pn0oV75jVm
New Zealand Central Bank discussed additional rate hikes, unemployment rate on recessionary track https://t.co/hwvOQI87j1
The Central Bank of New Zealand said a mild recession at bare minimum is required to tame inflation, says they may need to resume hikes
New Zealand’s central bank kept interest rates unchanged for a fifth straight meeting while continuing to signal the risk of a hike https://t.co/9y17C1cEmz
NEW ZEALAND MAINTAINS BENCHMARK INTEREST RATE AT 5.50% The experimental groundhog did not see a monetary shadow
🔴 RESERVE BANK OF NEW ZEALAND SETS OFFICIAL CASH RATE AT 5.5%
🇳🇿 RBNZ Interest Rate Decision Actual: 5.5% Expected: 5.5% Previous: 5.5% https://t.co/LpFEJm1mEw
🔴 ⚠️ BREAKING: NEW ZEALAND CASH RATE ACTUAL 5.5% (FORECAST 5.5%, PREVIOUS 5.50%) $MACRO
Heads Up:🇳🇿 RBNZ Interest Rate Decision due at 01:00 GMT (15min) Expected: 5.5% Previous: 5.5% https://t.co/LpFEJm1mEw