RBNZ Governor Breman says in online post-meeting press conference that the decision to hold rates was a consensus, adds discussed raising rates at today's meeting but were not close to hiking
Says:
- We were not close to hiking rates today and there were no strong advocates for a hike today.
- If oil prices keep falling our inflation forecast would be on the high side.
- Tighter financial conditions expected to modestly dampen growth.
- Frequency of rate hikes could be every meeting or every second meeting, it depends.
Context
RBNZ Governor Breman's remarks indicate a cautious stance regarding rate hikes, suggesting a consensus was reached to hold rates steady, reflecting no immediate pressure for a hike. The statement about a potential future frequency of hikes, coupled with concerns about falling oil prices impacting inflation forecasts, signals that while policy remains accommodative for now, the bank is closely monitoring inflation and growth dynamics which could shape upcoming decisions.
Trade the TapeGet this analysis live, the moment it breaksNewsquawk's real-time dashboard delivers market-moving headlines and instant context to your desk before the rest of the market reacts.
Open Dashboard#NEW ZEALAND#NZD#ASIA#GOVERNOR#RBNZ#IMPORTANT#FIXED INCOME#ENERGY#ASIAN SESSION#CENTRAL BANK#INFLATION#MONETARY POLICY#WTI#COMMODITIES#MEDIA#MEDIA & ENTERTAINMENT