RBNZ chief economist Conway said at IMF–World Bank meetings in Bangkok the late-October rate decision is "completely open," with the Bank seeking optionality between a 0bp and a 25bp move. He reiterated the RBNZ still views the official cash rate as most likely to rise but has not decided on timing. Conway said recent falls in oil and the NZD have added short-term upward pressure on inflation, although the Bank remains confident inflation will slow to the 1–3% target band next year.