Quote Originally Posted by Valuegrowth View Post
https://www.1news.co.nz/2024/07/10/r...55-once-again/

"In the March quarter of 2024, non-tradeable inflation was measured at 5.8%, and 5.9% in the quarter of December 2023, and was at 6.3% in the quarter prior.

This more stubborn inflation means the RBNZ will likely not cut the OCR for some time.

ANZ and Westpac both forecast a downward change in the OCR in early 2025, while RBNZ internal tracking predicted it won’t go down until the second half of 2025.

Last week ASB revised its forecast for downward movement in the OCR from February 2025 to November this year."
Hi Value G , the RBNZ is not mandated to keep “ Non tradeable” inflation in the band .
So if we get a low CPI print next week , by the time they update the Aug MPS numbers a cut in Nov can be on the cards . The wholesale interest rate market certainly took things considerable lower post the OCR update today .