RBNZ's Breman sees OCR holding at 2.25% if outlook unfolds as expected.RBNZ Governor Anna Breman signaled in media interviews today that the bar for further near-term easing remains high. While the forward path published in the November Monetary Policy Statement allows for a small probability of another rate cut, Breman stressed “if economic conditions evolve as expected the OCR is likely to remain at its current level of 2.25 per cent for some time.
NZ BNZ service falls to 46.9, recovery hopes dented.New Zealand's services sector slipped deeper into contraction in November, reinforcing signs that domestic demand remains fragile. BusinessNZ Performance of Services Index fell from 48.4 to 46.9, marking the lowest level of activity since May and sitting well below the survey's long-run average of 52.8.
RBNZ's Breman: Economic outlook has evolved broadly similar to MPC's expectations.RBNZ's Breman: Economic outlook has evolved broadly similar to MPC's expectations
New Zealand services sector sinks deeper into contraction in November.New Zealand's services sector slipped deeper into contraction in November, according to the latest BNZ–BusinessNZ Performance of Services Index (PSI).