Battle against inflation not over yet: RBNZ
Central bank keeps the official cash rate steady at 5.5%, as widely expected, rate cuts later in 2024.
RBNZ governor Adrian Orr presents the August 2023 monetary policy statement.
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The Reserve Bank is expecting the keep the official cash rate higher for longer to help get inflation back in the desired 1-3% target zone.
As widely expected, the central bank held the OCR steady at 5.5% today, keeping basically to script, with a few tweaks to the outlook.
A technical glitch on the
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