RBNZ winning with its pause
The Reserve Bank of New Zealand (RBNZ) has a dual mandate:
- to support employment at its maximum sustainable level and
- maintain price stability.
It has lifted interest rates from 0.25% in August 2021 to the current 5.5% = a MAMMOTH 22x increase already.
On the price stability side of the equation, annual inflation eased to 5.6% in the September quarter 2023 = About to fall below OCR rate.
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