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The economy is forecast to weaken further as the impact of 525 basis points of RBNZ rate rises becomes more visible. All 25 economists polled by Reuters July 3-6 expected the RBNZ to hold the official cash rate (OCR) (NZINTR=ECI) at 5.50% on July 12. It would be the first time the RBNZ has not raised rates at a policy meeting in nearly two years. The central bank raised rates in May but signalled it was done tightening. Over 90% of economists pollled, 23 of 24, did not predict any changes to rates this quarter.
Persons: Jarrod Kerr, pollled, Nick Tuffley, Devayani Sathyan, Susobhan Sarkar, Hari Kishan, Ross Finley, Kim Coghill Organizations: Reserve Bank of New Zealand, Reuters, ANZ, ASB, Bank of New, Kiwibank, Westpac, Thomson Locations: BENGALURU, Bank of New Zealand
The economy is forecast to weaken further as the impact of 525 basis points of RBNZ rate rises becomes more visible. All 25 economists polled by Reuters July 3-6 expected the RBNZ to hold the official cash rate (OCR) (NZINTR=ECI) at 5.50% on July 12. It would be the first time the RBNZ has not raised rates at a policy meeting in nearly two years. The central bank raised rates last month but signalled it was done tightening. Over 90% of economists pollled, 23 of 24, did not predict any changes to rates this quarter.
Persons: Jarrod Kerr, pollled, Nick Tuffley, Devayani Sathyan, Susobhan Sarkar, Hari Kishan, Ross Finley, Kim Coghill Organizations: Reserve Bank of New Zealand, Reuters, ANZ, ASB, Bank of New, Kiwibank, Westpac, Thomson Locations: BENGALURU, Bank of New Zealand
Total: 2