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RBNZ Update


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The RBNZ left the official Cash Rate on hold at 1.00% today. Adrian Orr said the easing of cash rates over the past year will take time to filter into the economy. Further stimulus to the NZ economy will happen only if economic developments warrant it, the RBNZ expects growth to drop to 2.0% in the December quarter 2019. Interest rates will need to stay at low levels for a long period until inflation reaches the mid point of the target level of 1-3% The NZD is broadly higher, up 70 points or nearly a cent against the US Dollar.

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