RBNZ says removing stimulus gradually supports growth, returns inflation to 2%
RBNZ decision reduces the risk the OCR will need to rise more aggressively later. It says future policy will depend on risks to medium-term inflation. Recovery has resumed but remains uneven.
Current Decision Reduces The Risk That The OCR Will Need To Rise More Aggressively Later - Future Policy Decisions Will Depend On The Balance Of Risks To Medium-Term Inflation - New Zealand's Economic Recovery Has Most Likely Resumed But Remains Uneven - Will Respond As Necessary To Ensure Inflation Returns Sustainably To The 2% Target Midpoint - Recovery Is Expected To Strengthen And Broaden - Export Sector Expected To Remain Resilient While Household Spending Gradually Increases - Labour Market Conditions Expected To Improve