RBNZ Shadow Board Recommends Holding Interest Rates Steady
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The Reserve Bank of New Zealand (RBNZ) Shadow Board has advised the central bank to maintain the current interest rates during its upcoming policy meeting. The recommendation comes amid ongoing economic uncertainties and the need to balance inflation control with growth support. The Shadow Board, a panel of independent economists, provides non-binding guidance to the RBNZ, reflecting diverse expert opinions on monetary policy. While some members see merit in a cautious approach due to lingering inflationary pressures, others emphasize the risks of stifling economic recovery with further rate hikes. The official RBNZ decision, expected later this week, will weigh these insights alongside domestic and global economic indicators. Market analysts anticipate a hold, aligning with the Shadow Board's consensus, though future adjustments remain data-dependent.
