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Decision to keep policy rate at 3.25% after six consecutive cuts had been expected by economists
The Reserve Bank of New Zealand
New Zealand’s central bank has ended nearly a year of easing by keeping its policy rate at 3.25%.
The Reserve Bank of New Zealand (RBNZ) said in a release today (July 9) that its monetary policy committee had made the decision amid a “highly uncertain” economic outlook. The bank said this uncertainty extended to the effects global tariffs might have on domestic inflation, import prices and the speed of New Zealand’s economic recovery.
The RBNZ said inflation was likely to increase towards the top
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