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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
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

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Brent Edwards Wed, 14 Aug 2024
Contact the Writer: brent@nbr.co.nz
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RBNZ cuts rate, says economy has contracted in recent months
Economics,
105336
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