Community Scoop » Budget 2024: A novice's guide and what to expect
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RBNZ leaves Official Cash Rate at 5.5%, but says domestic inflation is slow to fall and now puts a 60% chance of a further OCR hike by the end of this year; now doesn't see inflation getting back under 3% till the fourth quarter of the year
Today's RBNZ update leaves us comfortable for now with our forecast of a first policy easing in February next year, followed by only gradual policy easing thereafter. Future inflation data will be key in driving our OCR view with the risk that easing comes later than currently expected.
With one week to go, this handy-dandy cheat sheet will bring you up to speed on Budget jargon and allow you to impress all your friends.