RBNZ's Conway: The late-October rate decision is ‘completely open’
Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway said on Thursday that “the late-October rate decision is ‘completely open’.”
Key quotes via Bloomberg
The bank wants optionality between holding and a 25bp hike.
The RBNZ still sees the OCR as most likely to rise, but has not decided on timing.
Recent moves in oil and the NZD have added short-term upward pressure on inflation.
The bank remains confident inflation will slow to its 1% to 3% target band next year.
Market reaction
At the press time, the NZD/USD pair is adding 0.53% on the day to trade at 0.5630.
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