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19 Jul 2024 6:24
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  •   Home > News > Business

    Economists' Official Cash Rate expectations have proven correct

    Economists' Official Cash Rate expectations have proven correct


    It's staying at 5.5-percent, for the eight consecutive time.

    But the Reserve Bank's tone has softened -- to belief inflation will return to its one-to-three percent target by the year's end.

    Kiwibank Chief Economist, Jarrod Kerr says the Bank had to acknowledge collapsing business and household confidence.

    He says after being in a recession for 18 months -- enough is enough -- and it's time for it to start turning the tide on lowering rates.

    © 2024 Newstalk ZB, NZCity

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