New Zealand Keeps Interest Rates on Hold but Flags Likely Cut

New Zealand's central bank held the benchmark interest rate at 3.25% on Wednesday, noting near-term inflation risks, but said it expected to loosen monetary policy if price pressures continued to ease as forecast.

The decision was in line with a Reuters poll in which 19 of 27 economists surveyed projected the Reserve Bank of New Zealand would hold the cash rate for the first time since it started a cutting cycle in August 2024.

The central bank has cut rates by 225 basis points since August, but with inflation at 2.5% and concerns that trade tensions could add to price pressures, policymakers have adopted a more cautious approach...

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