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RBNZ to hold the OCR at 1.75% this week – Westpac

Analysts at Westpac explained that they expect the Reserve Bank to hold the OCR at 1.75%, and to retain the neutral tone of the November statement.

Key Quotes:

“The RBNZ will take some comfort from the fact that inflation is finally back within the target range. But there are still some significant barriers to a further pickup in inflation from here. Rising mortgage rates and a stronger New Zealand dollar mean that financial conditions have already tightened by more than the RBNZ intended.”

“RBNZ Governor Wheeler’s term ends in September. A statement about whether he will stand for another term is expected soon.”

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