2024 Inflation Rate Forecast Nz. To keep prices stable, the government has set us an inflation target between 1% and 3% over the medium term with a focus on the 2% midpoint. The monetary policy committee today agreed to cut the official cash rate (ocr) to 4.75 percent.

To keep prices stable, the government has set us an inflation target between 1% and 3% over the medium term with a focus on the 2% midpoint. Our main tool to help keep inflation low and stable is the official cash rate, which influences how expensive it is to borrow money from the bank.