Forex News 24
  • RSS

news

RBNZ Holds Official Cash Rate Steady At 1.75%

RBNZ Holds Official Cash Rate Steady At 1.75%
админ
10/05/2018

21264222d69ba8cae3fb4ac57bbfe29b - RBNZ Holds Official Cash Rate Steady At 1.75%

The Reserve Bank of New Zealand on Thursday kept its Official Cash Rate unchanged at the record low of 1.75 percent for the 10th straight meeting.

The decision was in line with expectations following a 0.25 percent rate cut in November 2016.

The central bank has pared a collective 0.50 percent from its benchmark in the last 18 months, lowering the rate in six of the last 18 meetings after six straight sessions with no change.

The domestic economy has continued to improve in recent months, RBNZ Governor Adrian Orr noted.

“The recent growth in demand has been delivered by an unprecedented increase in employment. The number of willing workers continues to rise, especially with more female and older workers choosing to participate. Likewise net immigration has added to the supply of labor, and the demand for goods, services, and accommodation,” Orr said in a statement accompanying the decision.

Orr added that New Zealand’s products and services should continue to be in demand thanks to continuing global growth.

He also noted that consumer prices are expected to gradually rise to the 2 percent annual target.

“To best ensure this outcome, we expect to keep the OCR at this expansionary level for a considerable period of time. This is the best contribution we can make, at this moment, to maximizing sustainable employment and maintaining low and stable inflation,” he said.

by

Source

Related Itemsconsumer pricesinflationNew ZealandrateReserve Bankrise
news
10/05/2018
админ
Related Itemsconsumer pricesinflationNew ZealandrateReserve Bankrise

More in news

273116ff712463a8fe797bc26d4bddd2 400x240 - Major policy change for the FED

Major policy change for the FED

админ30/08/2020
Read More
5ecd652efa96beb5e9daab8a81713e20 400x240 - Powell expected to preview Fed’s policy framework

Powell expected to preview Fed’s policy framework

админ27/08/2020
Read More
1cfd53e4dc84605be8f34b32e1fc08ff 400x208 - European markets look defensive

European markets look defensive

админ26/08/2020
Read More
Scroll for more
Tap

Last news

  • 273116ff712463a8fe797bc26d4bddd2 95x60 - Major policy change for the FED
    Major policy change for the FED
    news30/08/2020
  • 5ecd652efa96beb5e9daab8a81713e20 95x60 - Powell expected to preview Fed’s policy framework
    Powell expected to preview Fed’s policy framework
    news27/08/2020
  • 1cfd53e4dc84605be8f34b32e1fc08ff 95x60 - European markets look defensive
    European markets look defensive
    news26/08/2020
  • cbda506728f805be55e3597fd478b623 95x60 - Another record-setting session for U.S. stocks futures
    Another record-setting session for U.S. stocks futures
    news25/08/2020
  • 3c51d052540d35f9b8497fc0b1942d58 95x60 - $50M worth of cryptos or more left China
    $50M worth of cryptos or more left China
    news23/08/2020

Tags

american Asia Bitcoin China cryptocurrency currency Dollar dollar index economic Economists EUR euro Fed Federal Reserve forex futures GBP GDP Germany Index inflation interest rate interest rates Japan losses lost market markets monetary policy Oil price prices rate rates retail rise risk sales trade trade war trading Trump UK United States US

Copyright © 2019 Forex News 24, all rights reserved.

Japan March Current Account Surplus Y3.122 Trillion
Oil prices hit highest in years as markets adjust to looming sanctions on Iran