The Reserve Bank of New Zealand is largely expected to keep its policy rate unchanged at its meeting on Wednesday April 10, 2024.
- The statement is due by 2 p.m. New Zealand time (03:00 GMT, 22:00 US Eastern Time).
The New Zealand Institute of Economic Research (NZIER) operates a “shadow committee” of analysts. The Shadow Board is independent of the RBNZ and does not represent what the RBNZ will do, but rather what it believes the RBNZ should do. In other words, the Shadows do not preview what they think will happen, but what they think should happen.
As for this week’s meeting, the Shadows’ view is the same as the market consensus, a decision to hold at 5.5%.
- Shadow Board members agreed that inflation was slowing, but there was uncertainty over whether the pace of this easing would be sufficient to bring annual CPI inflation back into the inflation target range over the next year. the year to come.
- The general view was that it would be prudent for the central bank to wait to assess how the economy fares over the coming months, given the uncertainty surrounding the global growth outlook and the priorities of the new government.
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