Investing.com– The Reserve Bank of New Zealand kept interest rates consistent as anticipated on Wednesday, however flagged a possible hold-up in interest rate cuts due to headwinds from sticky inflation.
The RBNZ kept its at 5.50%, as anticipated by markets, marking the seventh successive conference where the bank left rates thesame.
While the bank had marked an end to its rate walking cycle in mid-2023, it is now anticipated to keep rates high for longer, inthemiddleof some indications of sticky inflation in the nation.
“The welcome decrease in inflation in part shows lower inflation for products and services imported into New Zealand… However, services inflation is declining gradually,