The central bank held the OCR at 5.5% this afternoon, as widely expected. Insolvency experts think the situation for business is more grim than the figures depict.
RBNZ repeats restrictive monetary policy needed for 'sustained' period.
What’s at stake:Whether the RBNZ moves the OCR this year, up or down, because of inflation and the slowing economy.
Background: The RBNZ has left the OCR on hold at 5.5%, as expected.
Key players: RBNZ, Adrian Orr, Monetary Policy Committee, NZIER, Christina Leung, Restructuring Insolvency & Turnaround Association, Kare Johnstone.
The Reserve Bank is confident that inflation will fall back into the desired 1-3% target band this calendar year.
It left the official cash rate on hold at 5.5%, as widely expected, this afternoon. In February, the RBNZ reiterated the OCR must stay in the restrictive zone for a “sustained”
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