HiFX Data Update - RBNZ OCR remains at 1.75%

Thursday, 27 September 2018, 9:34 am
Press Release: HiFX

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

The key points in the RBNZ statement and full monetary policy statement are:
Expect to keep the OCR at this level into 2020
Direction of next move could be up or down
Employment is around its sustainable level
Outlook for OCR assumes growth will pick up over the coming year
Projections as detailed in August Monetary Policy Statement is little changed
Q2 GDP growth was stronger than anticipated, downside risks remain
Lower NZD will support demand for exports and growth
Global inflationary pressure expected to rise but remain modest
The NZD is higher in immediate response:

The next OCR decision, and press conference will be held on 8th November 2018.

Below is link to the RBNZ press release:

https://www.rbnz.govt.nz/news/2018/09/ocr-unchanged-at-1-75-percent

Current indicative levels are:

NZDUSD 0.6660 / 0.6695
NZDAUD 0.9175 / 0.9200
NZDEUR 0.5665 / 0.5690
NZDGBP 0.5050 0.5075
NZDJPY 75.05 75.30

ends

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