NZ central bank seen holding rates

All economists polled by Reuters expect the Reserve Bank of New Zealand (RBNZ) to hold the official cash rate (OCR) tomorrow at a record low of 0.25%, where it has been since a pandemic-driven cut in March last year.

WELLINGTON: New Zealand’s central bank will leave monetary policy unchanged this week but could start to raise rates later this year, according to a Reuters poll, following recent data that showed rising inflationary pressures and a tightening labour market.

All economists polled by Reuters expect the Reserve Bank of New Zealand (RBNZ) to hold the official cash rate (OCR) tomorrow at a record low of 0.25%, where it has been since a pandemic-driven cut in March last year.