RBNZ meet next week, expected to hold the cash rate steady despite high & sticky inflation

<p>The Reserve Bank of New Zealand meet next week, Wednesday November 29 with the announcement due at 2pm local time</p><ul><li>0100 GMT</li><li>2000 US Eastern time on Tuesday</li></ul><p>The market consensus is that the Bank will&nbsp;hold its cash rate at 5.50% for the fourth consecutive meeting. Despite inflation remaining well above the Bank's 1-3% target range&nbsp;at 5.6% y/y for the latest reading.&nbsp;</p><p> With such persistent and sticky inflation the RBNZ will remain hawkish.</p><p><span>ANZ:</span></p><ul><li><span><em>
"We expect the Reserve Bank to carefully leave all its
options open and stress the next move in rates could be up or
down and they're in data-dependent mode</em></span></li><li><span><em>Given the most recent data, they're probably a little less
worried than they were. But there is still a long way to go, and
the Reserve Bank will be very aware that the job is far from
done."</em>
</span></li></ul><p><span>ANZ forecast rates on hold for all of 2024.&nbsp;</span></p><p><br></p>

This article was written by Eamonn Sheridan at www.forexlive.com.