this post was submitted on 12 Jul 2023
18 points (100.0% liked)

Aotearoa / New Zealand

1657 readers
4 users here now

Kia ora and welcome to !newzealand, a place to share and discuss anything about Aotearoa in general

Rules:

FAQ ~ NZ Community List ~ Join Matrix chatroom

 

Banner image by Bernard Spragg

Got an idea for next month's banner?

founded 1 year ago
MODERATORS
Dave
RaoulDuke
18
Reserve Bank leaves official cash rate at 5.5% (www.rnz.co.nz)
submitted 1 year ago by NoRamyunForYou to c/newzealand
10 comments fedilink hide all child comments
 

"The Reserve Bank stuck to the script and left the official cash rate unchanged at 5.5 percent, confirming an end to its 21-month tightening campaign"...

"It said inflation, currently at an annual rate of 6.7 percent, was expected to keep falling as would inflation expectations, with a slowing global economy, an easing in supply chain disruptions, cooler labour and housing markets"...

"It estimated that inflation would be back in the target band in the second half of 2024"...

"We don't expect OCR cuts until May next year, give or take"

you are viewing a single comment's thread
view the rest of the comments
[–] Dave 2 points 1 year ago

Thanks for the explanation!

Looking at historical inflation, it seems there weren't many good controls prior to the 90s. Inflation was all over the place.