New Zealand Shares Rise 0.1%, Complete Best Week Since 2020 -- Market Talk
Express News | Survey: New Zealand's central bank is expected to cut interest rates to 4.75% by the end of 2024.
New Zealand's second quarter export PPI increased by 1.1% quarterly, while import PPI increased by 1.4%, according to the "Economy" magazine.
New Zealand's statistical agency released that the Q2 export PPI rose by 1.1% quarterly, with the revised previous value up by 0.8%. Q2 import PPI rose by 1.4% quarterly, with the previous value up by 0.7%.
RBNZ's Silk: Behaviour of Price Inflation Is Crucial for Cash Rate Path Ahead
New Zealand Dollar Extends Its Losses on Dovish RBNZ
RBNZ: Gradually lowering the interest rate to the neutral level of 3%.
Adrian Orr, the Governor of the Reserve Bank of New Zealand, stated that the central bank has begun a cycle of interest rate cuts and plans to gradually reduce the interest rate to a more neutral level. Yesterday (14th), the central bank announced a 0.25 percentage point interest rate cut to 5.25% and predicted that the interest rate will drop to a neutral level of 3% by the mid-2027. Orr stated that he hopes to achieve a neutral interest rate level through cautious and gradual steps in order to ensure that inflation expectations remain at the target level of 2%. Although the current economy is weak, it is expected to expand from the end of this year to the beginning of next year, so there is no need to take more stimulus measures.