More from the RBNZ: Estimate of nominal neural cash rate has increased 25bp

<p>Minutes from the Reserve Bank of New Zealand meeting:</p><ul><li>
Committee noted inflation is still expected to decline within the
target band by the second half of 2024</li><li>Committee agreed
that the risks around the inflation projection remain balanced</li><li>Committee noted that
the estimate of the nominal neutral OCR has increased by 25 basis
points to 2.25% within the projections, consistent with the Reserve
Bank’s indicator suite</li></ul><p>—</p><p>Earlier:</p><ul><li><a href="https://www.forexlive.com/centralbank/reserve-bank-of-new-zealand-leave-cash-rate-unchanged-at-55-as-widely-expected-20230816/" target="_self">Reserve Bank of New Zealand leave cash rate unchanged at 5.5%, as widely expected</a></li><li><a href="https://www.forexlive.com/centralbank/nzdusd-a-few-points-higher-after-the-rbnz-statement-says-rates-to-stay-high-for-some-time-20230816/" target="_self">NZD/USD a few points higher after the RBNZ statement says rates to stay high for some time</a></li></ul><p>Still to come is RBNZ Governor Orr's press conference due at 0300 GMT, 11pm US Eastern time. </p>

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