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Economics
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OCR in restrictive territory for 'sustained' period: RBNZ

The central bank's monetary policy committee left the OCR on hold at 5.5% today.

WATCH: RBNZ Governor Adrian Orr delivers the February monetary policy statement.

Key points
  • What’s at stake: Whether the RBNZ needs to hike the official cash rate again this year because of stubborn inflation pressures. 
  • Background: The central bank today released its February Monetary Policy Statement, keeping the OCR on hold at 5.5%.
  • Key players: RBNZ, Adrian Orr, Stats NZ, Nicola Willis, ANZ, Sharon Zollner.

The Reserve Bank has reiterated the official cash rate needs to stay in the restrictive zone for a “sustained” period to ensure inflation falls back to target.

This afternoon, the central bank’s Monetary Policy Committee agreed to leave the OCR on hold at 5.5%, as most analysts expected.

RBNZ

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Key points
  • What’s at stake: Whether the RBNZ needs to hike the official cash rate again this year because of stubborn inflation pressures. 
  • Background: The central bank today released its February Monetary Policy Statement, keeping the OCR on hold at 5.5%.
  • Key players: RBNZ, Adrian Orr, Stats NZ, Nicola Willis, ANZ, Sharon Zollner.
OCR in restrictive territory for 'sustained' period: RBNZ
Economics,
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