28/05/2025
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Today the Monetary Policy Committee voted to lower the Official Cash Rate by 25 basis points to 3.25%.
Both tariffs and increased policy uncertainty overseas are expected to moderate New Zealand’s economic recovery and reduce medium-term inflation pressures. But there remains considerable uncertainty around this.
Inflation is within the 1-3% target band. The MPC remains well-placed to respond to international and domestic developments, to maintain price stability over the medium term.