The Reserve Bank is tipping unemployment to dip just under 4 per cent next year and for annual inflation to peak at 4. The bank said wage inflation had increased in line with the tightening labour market, but it was not sure whether higher wage growth would be sustained. But the outbreak had resulted in many tearing up their expectations of any immediate move. ANZ chief economist Sharon Zollner played down the significance of the Reserve Bank's decision shortly before the central bank issued its monetary policy statement.
Zollner said it was the health response to the Delta outbreak that mattered most and monetary policy would essentially be a side show this week. New Zealand Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of Interest Rate in New Zealand is expected to be 0. In the long-term, the New Zealand Interest Rate is projected to trend around 1. Trading Economics members can view, download and compare data from nearly countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.
Features Questions? Contact us Already a Member? It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Click here to contact us. Please Paste this Code in your Website.
News Stream. That said, policymakers still expect a hike before year-end to anchor inflation expectations and contribute to maximum sustainable employment. The board noted that inflation pressures are being accentuated in the near term, amid rising capacity pressures, higher oil prices and transport costs, and supply shortfalls.
Today's decision follows the recent halting of additional bond purchases under the Large Scale Asset Purchase programme in July. Policymakers said some monetary stimulus remains necessary but its level could be reduced to minimize the risk of not meeting consumer price and employment objectives over the medium-term.
They reiterated there will be near-term spikes in CPI inflation in Q2 and Q3, amid factors that are either one-off in nature or expected to be temporary. The committee agreed that more persistent consumer price inflation pressure is expected to build over time. The board added recent data indicate the economy remains robust despite the ongoing impact of international border restrictions. The market expected at least an increase of 0. OCR 2. That was until, almost exactly 24 hours before the Reserve Bank was due to announce its OCR decision, word got out of a Covid case in the community without any clear connection to an MIQ facility, or any other potential border facility.
It was a given that this case would be a Delta variant. The investment markets can be whipped quick at times, and this was one of those times. Within mere minutes of the news hitting the wires the New Zealand dollar was down 0. OCR 3. The chart above shows that at pm last Tuesday afternoon the New Zealand dollar could be exchanged for nearly 96 Australian cents, and minutes later that reduced to The New Zealand dollar continued to weaken through the day until at 6.
By that point the New Zealand dollar had dropped another 0.
0コメント