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Shadow Board sees no change in the OCR in May is warranted
The NZIER Monetary Policy Shadow Board recommends the Reserve Bank of New Zealand (RBNZ) keep the Official Cash Rate (OCR) at 5.50 percent in the upcoming Monetary Policy Statement on 22 May 2024. While there is consensus across the Shadow Board members that annual CPI inflation is continuing to ease, the persistence of high domestic inflation remains a concern. Because of this, the Shadow Board believes the OCR should remain unchanged in May. One member also pointed out that the RBNZ should keep the OCR hold in May, given the uncertainty over the Government’s Budget. Regarding where the OCR should be in a year’s ... (full story)
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- Posted: May 21, 2024 12:27am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,921
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