Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


HiFX Data Update - RBNZ Official Cash Rate Decision

HiFX Data Update - RBNZ Official Cash Rate Decision

The RBNZ have maintained the Official Cash Rate (OCR) at 1.75%. This was widely expected.

The key points in the RBNZ statement are:

• Keeps cash rate unchanged at 1.75%

• Expects no change in rates for "considerable period"

• Numerous uncertainties remain; may adjust policy accordingly

• Lower NZD would help rebalance growth outlook

• Recent budget will support outlook for growth

• House price inflation has moderated

• Q1 inflation rise likely temporary

• Wage inflation remains moderate

• Longer-term inflation expectations well anchored

• Expects future headline inflation to reach the midpoint of the target band over the medium term

• Inflation rise mainly due to temporary factors, may lead to some variability in headline inflation

• House price inflation has moderated further, moderation projected to continue

• There is risk of resurgence in house price inflation given the on-going imbalance between supply and demand

The NZD is higher in immediate response.

The next OCR decision and full Monetary Policy Statement will be held on 10th August 2017.

Below is link to the full RBNZ press statement:

Current indicative levels are:

NZD-USD 0.7235 / 0.7260
NZD-AUD 0.9580 / 0.9605
NZD-EUR 0.6480 / 0.6505
NZD-GBP 0.5705 / 0.5730
NZD-JPY 80.55 / 80.80


© Scoop Media

Business Headlines | Sci-Tech Headlines


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>


Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>