Get all your news in one place.
100's of premium titles.
One app.
Start reading
Reuters
Reuters
Business

Reserve Bank of New Zealand seen holding rates steady on Nov 9

FILE PHOTO: A pedestrian walks past the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand, July 3, 2017. REUTERS/David Gray/File Photo

WELLINGTON (Reuters) - The Reserve Bank of New Zealand (RBNZ) is widely expected to keep its cash rate at a record-low of 1.75 percent at its monetary policy meeting on Thursday, a Reuters poll of economists found.

All 19 economists forecast the RBNZ would stand pat on November 9.

Five out of 19 economists expected rate hikes by the third quarter of 2018. Twelve of 18 economists projected hikes by the first quarter of 2019.

The RBNZ last cut the official cash rate in November 2016 to boost tepid inflation and has kept rates on hold since.

Economists were asked what the cash rate would be after the next Reserve Bank meeting on November 9 and where rates would be at the end of the following five quarters.

(Reporting by Charlotte Greenfield; Editing by Eric Meijer)

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.