🧵 1. New Zealand central bank expected to hold interest rates at 5.50% for the rest of 2023, ending their 20-month long hiking cycle. #finance
🧵 1. New Zealand central bank expected to hold interest rates at 5.50% for the rest of 2023, ending their 20-month long hiking cycle. #finance
🧵 2. Despite a weakening economy, inflation remains high at 6.7%, well above the central bank's target range of 1-3%.
🧵 3. All 25 economists polled expect the RBNZ to maintain the 5.50% official cash rate at the upcoming meeting, signaling a pause in tightening.
🧵 4. Median forecasts suggest rates will remain steady at 5.50% until Q1 2024, with a minority predicting a rate cut this year.
🧵 Read more at: https://www.reuters.com/world/asia-pacific/new-zealand-central-bank-hold-rates-july-rest-2023-2023-07-06/
Interesting... provided they stick to it!