New Zealand’s central bank will publish its forecasts for the Official Cash Rate from next month, increasing the transparency of how it communicates future interest-rate moves.
The Reserve Bank, which has traditionally provided monetary policy guidance using its forecasts for the bank-bill yield, will make the change from the next decision due Nov. 10, it said in a statement Tuesday. The central bank is switching methods after regulatory changes in global financial markets altered the relationship between bank-bill yield and OCR moves, it said.
