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A lot has happened in New Zealand since the last meeting of their Reserve Bank.
A lot more has happened outside the island nation that has implications for the country’s monetary policy. Thus, there are many analysts that are expecting some kind of action from the last meeting of the RBNZ of the year.
There is over a three-month hiatus until the next time the committee is called, currently scheduled for February 24, 2021.
So, Governor Orr and his team better get things right if they want to leave the economy on autopilot for that long.
This is the last chance to announce any new policy initiatives, which is why there is a pretty strong consensus among analysts that we can expect something from the RBNZ tomorrow.
Keeping Promises, and the Looming Giant
The RBNZ had promised to keep the OCR (the reference rate) at 0.25% until March.
Australia’s rate cut to 0.1% might have increased pressure on the RBNZ to do something. But the two countries are facing different circumstances ...
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