Skip to main content

RBNZ will deliver another hawkish hold

Although economic activity has held up reasonably well thus far, we still think it will see another leg down. Accordingly, we’re sticking with our view that the RBNZ won’t lift rates any higher. That said, the Bank will probably wait to see more compelling evidence that inflation is on its way back to its 1-3% target before it loosens policy. Therefore, we now expect rate cuts only in Q3 2024, as opposed to Q2 2024 previously.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services

Get access