RBNZ continues tightening as inflation approaches 5%
Rising commodity and transport costs see central bank overshoot 2% inflation target
The Reserve Bank of New Zealand’s monetary policy committee voted to raise interest rates to 0.75% today (November 24) as inflation threatens to breach 5%.
In a statement, the central bank said “further removal” of monetary policy stimulus is expected over time, given the outlook for inflation and employment.
“Headline CPI inflation is expected to measure above 5% in the near term before returning towards the 2% [target] midpoint over the next two years,” the RBNZ said.
The central bank’s
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- Central bank of the year: Central Bank of Brazil