RBNZ raises OCR to 2.75%
The Reserve Bank of New Zealand's Monetary Policy Committee collectively agreed to raise the OCR to 2.75%, stating the move reduces the chance larger OCR increases are needed later and that future decisions depend on the inflation risk balance. The RBNZ also raised its end-2027 OCR projection to 3.2%, below the ~3.5% OIS market pricing.
Detected & updated continuously · Source: Nebula
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🚨 RBNZ: MONETARY POLICY COMMITTEE AGREED COLLECTIVELY TO RAISE OCR TO 2.75%
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🚨 RBNZ: RATE MOVE REDUCES CHANCE LARGER OCR INCREASES NEEDED LATER; FUTURE DECISIONS DEPEND ON INFLATION RISK BALANCE
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🚨 RBNZ: ECONOMIC EXPANSION APPEARS TO HAVE RESTARTED AFTER SOFT JUNE QUARTER, RECOVERY REMAINS UNEVEN
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🚨 RBNZ: COMMITTEE REMAINS READY TO ACT TO ENSURE INFLATION RETURNS DURABLY TO 2% MIDPOINT OVER TIME
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🚨 RBNZ: EXPECTS RECOVERY TO GAIN MOMENTUM AND EXTEND ACROSS MORE PARTS OF THE ECONOMY
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🚨 RBNZ: NEW ZEALAND'S ECONOMIC UPSWING APPEARS BACK UNDERWAY, BUT RECOVERY STILL NOT BROADLY UNIFORM
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🚨 RBNZ RAISES END-2027 OCR PROJECTION TO 3.2%, STILL BELOW ~3.5% OIS MARKET PRICING
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🚨 RBNZ: EXPECTS LABOUR MARKET CONDITIONS TO STRENGTHEN