5/26/2021 12:55:07 AM GMT | By Anil Panchal
Early Wednesday at 02:00 GMT market sees the monetary policy decision by the Reserve Bank of New Zealand (RBNZ). New Zealand’s central bank is at the crucial point where it needs to strike a balance between economic optimism at home and the reflation fears. Also adding importance to today’s decision is the latest tapering from the Bank of Canada (BOC) and the Bank of England (BOE).
It should be noted that the latest comments from the RBNZ officials cite downside risk to inflations, contrary to the survey suggesting New Zealand (NZ) inflation expectations keep accelerating in Q2.
2021-05-26 06:35:23 GMT2021-05-26 14:35:23(Beijing Time) Xinhua English
WELLINGTON, May 26 (Xinhua) The Reserve Bank of New Zealand s Monetary Policy Committee has decided to keep the official cash rate (OCR) at 0.25 percent, and the Large Scale Asset Purchase and Funding for Lending programs unchanged.
The committee agreed to maintain the current stimulatory level of monetary settings in order to meet its consumer price inflation and employment objectives, according to a statement from the central bank on Wednesday.
The global economic outlook has continued to improve, with ongoing fiscal and monetary stimulus underpinning the recovery, the statement said, adding New Zealand s commodity export prices have benefited from a rise in global demand.