close
MENU
Economics
4 mins to read

RBNZ cuts rate, says economy has contracted in recent months

The output gap is now assumed to be more negative than in its May Monetary Policy Statement.

The Reserve Bank released its August Monetary Policy Statement today.

Brent Edwards Wed, 14 Aug 2024

Just a few months after considering raising the official cash rate the Reserve Bank today has cut it from 5.5% to 5.25%

Back in May the bank had been concerned about the stubborn nature of inflation and reported its monetary policy committee had considered whether to raise interest rates again.

But a

Want to read more? It's easy.

Choose your best value subscription option

Student

Exclusive offer for uni students studying at a New Zealand university (valued at $499).
Individual
Group membership
NBR Marketplace

Yearly Premium Online Subscription

NZ$499.00 / yearly

Monthly Premium Online Subscription

NZ$44.95 / monthly

Smartphone Only Subscription

NZ$24.95 / monthly

Premium Group Membership 10 Users

NZ$350+GST / monthly

$35 per user - Pay by monthly credit card debit

Premium Group Membership 20 Users

NZ$600+GST / monthly

$30 per user - Pay by monthly credit card debit

Premium Group Membership 50 Users

NZ$1250+GST / monthly

$25 per user - Pay by monthly credit card debit

Premium Group Membership 100 Users

NZ$1875+GST / monthly

$18.75 per user - Pay by monthly credit card debit

Yearly Premium Online Subscription + NBR Marketplace

NZ$499.00 / yearly

Already have an account? Login
Brent Edwards Wed, 14 Aug 2024
Contact the Writer: brent@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
RBNZ cuts rate, says economy has contracted in recent months
Economics,
105336
true