What’s at stake:Whether the RBNZ has enough evidence to cut the OCR this year.
Background: The RBNZ left the OCR on hold at 5.5%, as expected, this week. Other data out today shows a fall in food price growth, lower spending using electronic cards, as well as contraction in manufacturing sector.
Key players: RBNZ, Adrian Orr, Monetary Policy Committee, ASB, Nat Keall, Mark Smith, Westpac, Darren Gibbs, ANZ, Henry Russell, Miles Workman.
Fresh data out today highlights a further retreat for inflation and sluggish economic activity, but economists caution about claiming victory on inflation just yet.
Stats NZ data showed retail spending using electronic cards fell 0.7% last month, compared with February.
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Key points
What’s at stake:Whether the RBNZ has enough evidence to cut the OCR this year.
Background: The RBNZ left the OCR on hold at 5.5%, as expected, this week. Other data out today shows a fall in food price growth, lower spending using electronic cards, as well as contraction in manufacturing sector.
Key players: RBNZ, Adrian Orr, Monetary Policy Committee, ASB, Nat Keall, Mark Smith, Westpac, Darren Gibbs, ANZ, Henry Russell, Miles Workman.
