Neuseeland Zinssatz

The Reserve Bank of New Zealand maintained its official cash rate (OCR) at 5.5% during its first policy meeting in 2024, extending the rate pause for the fifth straight gathering and matching market consensus. While saying core inflation and inflation expectations had fallen and the risks to the inflation outlook had become more balanced, the central bank was aware that headline inflation remains above the target level of 1 to 3%. The committee viewed that the OCR needs to stay at a restrictive level for some time despite slightly lowering its projection of cash rate peak to 5.6% from earlier estimates of 5.7%. It continued to expect a monetary easing to begin in mid-2025. Regarding the GDP, the board said growth in the near term would be subdued as domestic data were mixed in recent months, with the economic outlook in top trading partner China staying historically weak and global central banks likely retaining their hawkish bias longer than expected to ease persistent cost pressure.