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Economics
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Slow grind back to target for inflation, OCR on hold next month

OCR cuts pencilled in from August – while inflation back in key zone later this year.

WATCH: ANZ economist Henry Russell speaks with Jonathan Mitchell.

Key points
  • What’s at stake: Whether the RBNZ needs to hike the official cash rate again in 2024 because of stubborn inflation pressures. 
  • Background: Stats NZ data out yesterday showed inflation fell to 4.7% in the year to December. The central bank kept the OCR at 5.5% in November. But it said it had a ‘willingness’ to hike again, if needed this year.
  • Key players: Stats NZ, ANZ, Henry Russell, Moody's Analytics, Kiwibank, ASB, RBNZ, Christian Hawkesby, Adrian Orr.

The battle against inflation is not over – with geopolitical issues in the Red Sea and high migration key factors that could shift the dial on price pressures this year.

Stats NZ data out yesterday showed inflation in the year ended December 31 fell to 4.7%. That compares with the previous rate of

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Key points
  • What’s at stake: Whether the RBNZ needs to hike the official cash rate again in 2024 because of stubborn inflation pressures. 
  • Background: Stats NZ data out yesterday showed inflation fell to 4.7% in the year to December. The central bank kept the OCR at 5.5% in November. But it said it had a ‘willingness’ to hike again, if needed this year.
  • Key players: Stats NZ, ANZ, Henry Russell, Moody's Analytics, Kiwibank, ASB, RBNZ, Christian Hawkesby, Adrian Orr.
Slow grind back to target for inflation, OCR on hold next month
Economics,
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