WELLINGTON: New Zealand’s central bank has maintained the Official Cash Rate (OCR) at 3.25 per cent, while continuing to foreshadow further reductions, reflecting a cautious approach amid economic uncertainties, reported Xinhua.
Officials expect annual consumer price inflation to edge toward the upper end of the 1-3 per cent target range by mid-2025, but anticipate headline inflation will remain contained and fall back near 2 per cent by early 2026, according to a statement released Wednesday by the Reserve Bank’s Monetary Policy Committee.
The committee cited strong export prices and lower domestic interest rates as key drivers supporting the country’s ongoing recovery. – BERNAMA-XINHUA
