The Reserve Bank of New Zealand left its Official Cash Rate unchanged at 5.50%, as expected. Consensus almost unanimously expected no change. The bank’s committee members agreed the level of interest rates are constraining spending and inflation pressure. The RBNZ saw the terminal official cash rate again at 5.5% in June 2024. The committee agreed that interest rates will need to remain at a restrictive level for the foreseeable future. Inflation remains too high. The RBNZ was the first central … Continue reading Reserve Bank of New Zealand Leaves Rates Unchanged 5.50%, Inflation Remains Too High