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Market News
27.03.2019, 07:01

Reserve Bank of New Zealand (RBNZ) kept the official cash rate (OCR) at 1.75% as expected

  • RBNZ says next rate move is likely down

  • Balance to inflation risks have shifted to downside

  • Employment is near its maximum sustainable level

  • Core consumer price inflation remains below our 2 percent target mid-point, necessitating continued supportive monetary policy

  • Global economic outlook has continued to weaken

  • Domestic growth slowed in 2018, with softness in the housing market and weak business investment contributing

  • We expect ongoing low interest rates, and increased government spending and investment, to support economic growth over 2019

  • Balance of risks to this outlook has shifted to the downside

  • inflation could rise faster if firms pass on cost increases to prices to a greater extent

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