The Reserve Bank of New Zealand (RBNZ) stood pat on rates, consequently leaving the Official Cash Rate (OCR) at 5.50% for a seventh consecutive meeting.
The week that was The Reserve Bank of New Zealand stood pat on rates, consequently leaving the Official Cash Rate at 5.50% for a seventh consecutive meeting. However, the central bank echoed a hawkish stance that propelled the New Zealand dollar to a high of $0.6153. In a nutshell, the peak OCR forecast was raised from 5.60% to 5.65%, and there were talks of policy firming at the meeting, but members settled for a hold.
The Services PMI remained unchanged, while the Manufacturing PMI rose to a 15-month high of 47.4 . In the UK, a similar view was seen, bolstering continued recovery following the mild technical recession last year. The Manufacturing PMI departed contractionary territory and recorded a 22-month high at 51.3, up from 49.1 in April.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Election InformationEarly Voting: Monday, May 20 - Friday, May 24; Election Day: Tuesday, May 28
Read more »
Federal reserve president says rate cuts may not come in 2024Minneapolis Fed President Neel Kashkari said that interest rates may remain elevated for an 'extended period' this year until policymakers see more evidence of inflation declining.
Read more »
Federal Reserve interest rate decision for May 2024: What to expectRob Wile is a breaking business news reporter for NBC News Digital.
Read more »
Federal Reserve minutes indicate worries over lack of progress on inflationThe Federal Reserve on Wednesday released minutes from its April 30-May 1 policy meeting.
Read more »
Federal Reserve minutes indicate worries over lack of progress on inflationThe Federal Reserve on Wednesday released minutes from its April 30-May 1 policy meeting.
Read more »
Here's How Much XRP, DOGE, SHIB Held in Top Exchange Bybit's ReservesMajor exchange Bybit has released its reserve certificate for May 2024
Read more »