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

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  

more to come ....