The Reserve Bank (RBNZ) has again left the Official Cash Rate (OCR) unchanged on 5.5%. This is the statement from the Reserve Bank:The Monetary Policy Committee today agreed to maintain the Official Cash Rate (OCR) at 5.50%. While global growth was resilient across the first half of the year this is beginning to fade, particularly in China. Members noted that debt levels are high in some parts of the economy and debt servicing costs have increased. In discussing their Remit objectives, the Committee noted inflation is still expected to decline within the target band by the second half of 2024.
