قالب وردپرس درنا توس
Home / Business / Official cash rate reduced to 1 percent @ Forex Factory

Official cash rate reduced to 1 percent @ Forex Factory



From rbnz.govt.nz | 6 hours ago

Until the second half of 2018, the economy of New Zealand expanded at a solid pace. The improving world economy, low interest rates and population growth encouraged households and businesses to spend more. As a result, businesses have needed more workers and the number of people unable to find jobs has fallen. Employment has risen to near its maximum sustainable level. Inflation for domestically produced goods and services has fallen well below the historical average. Consumer price growth has remained within our target range between 1

and 3 per cent since the end of 2016, but has remained below the midpoint of the target. As the headwind increases, the economy needs more support from monetary policy. Lower interest rates encourage consumers to spend, and companies to invest and hire more people. This supports economic activity and employment, pushing inflation towards our midpoint of 2 per cent per year. Higher government spending will also increase economic activity and job growth. However, economic growth may slow down further in the next year if the world economy slows down more than we expect, reducing demand for our products. Should this happen, we can lower interest rates further to provide more support for employment and to ensure that inflation remains around 2 per cent. tweet at 10:02 PM: RBNZ: Cut Required to support employment and inflationary policy area – Use is around max. Sustainable Level – Growth Headwinds Increase – Use, Inflation Will Probably Be In the Absence of Further Stimulation – Global Economic Growth Activities Continue Sees OCR At 0.91% in December 2020 (prev 1.36%) -Sees OCR Ar 1.59% I September 2022 [19659004]
Source link