RBNZ holds cash rate at 2.75%, below 3% forecast, in 4-3 vote; NZD falls 1.4%

The Reserve Bank of New Zealand held its official cash rate at 2.75%, below the 3% forecast, in a 4-3 vote. Four members voted to hold while three backed an increase. The RBNZ said more OCR hikes are probable but dependent on the economic outlook, and flagged risk inflation entrenches. The New Zealand dollar fell 1.4% to $0.5600.

Detected & updated continuously · Source: Nebula