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.