Ray White Now New Zealand - September Edition - Page 13

Official Cash Rate on hold at 0.25 percent .
The seven members of the Monetary Policy Committee agreed to retain the current stimulatory level of monetary settings , keeping the OCR at 0.25 percent for now .
Economic growth and employment are strong
Businesses are finding it difficult to source the workers needed to meet demand
Recent increases in inflation are largely temporary
Less stimulus will be needed to meet our inflation and employment objectives
Latest key statistics
• Annual economic growth : 2.4 percent ( Q1 2021 )
• Annual inflation : 3.3 percent ( Q2 2021 )
• Unemployment rate : 4.0 percent ( Q2 2021 )
Today ’ s decision to keep the OCR at 0.25 percent was made in the context of the Government ’ s imposition of Alert Level 4 restrictions on activity across New Zealand .
Source : Monetary Policy Statement August 2021
This is the latest Monetary Policy Statement released 18 August 2021 by the Reserve Bank . This may provide a balanced view of the way New Zealand ’ s central bank responds to the considerations in regards to the outlook of house prices together with the potential risks and other aspects involved .