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.
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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