RBNZ Assistant Governor Karen Silk said that interest rates are currently within the estimated neutral band of 2.5% to 3.5%.
She noted that the full impact of previous easing has yet to filter through the economy, making any future adjustments highly dependent on incoming data.
The OCR track indicates “whatever we do is going to be data-dependent, and then we will be looking to the data to help us to decide when or if we cut further from here,” she added.
