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OCR 5.50% - Inflation Approaching Target Range
Restrictive monetary policy has significantly reduced consumer price inflation, with the Committee expecting headline inflation to return to within the 1 to 3 percent target range in the second half of this year. The decline in inflation reflects receding domestic pricing pressures, as well as lower inflation for goods and services imported into New Zealand. Labour market pressures have eased, reflecting cautious hiring decisions by firms and an increased supply of labour. The level of economic activity, including business and consumer investment spending and investment intentions, is consistent with the restrictive ... (full story)
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- Posted: Jul 9, 2024 10:01pm
- Submitted by:Category: Low Impact Breaking NewsComments: 3 / Views: 5,834
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