New Zealand's 10-year government bond yield fell toward 4.7%, retreating from six-week highs as the Reserve Bank of New Zealand kept the cash rate unchanged at 5.5%, in line with expectations. The central bank has now extended the rate pause for the sixth consecutive meeting as policymakers seek to further reduce capacity pressures and inflation. The RBNZ also aims to bring inflation back down within the target range of 1% to 3% by end of year. However, the central bank acknowledged that economic growth in New Zealand remains weak after falling to a technical recession in the fourth quarter. Policymakers also noted a sharp decline in business confidence and a weakening in firms’ own expectations for activity and investment. Externally, investors geared up for a key US inflation reading that could further guide the monetary policy outlook.
New Zealand 10Y Bond Yield was 4.96 percent on Friday April 26, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the New Zealand 10-Year Government Bond Yield reached an all time high of 19.20 in May of 1985. New Zealand 10-Year Government Bond Yield - data, forecasts, historical chart - was last updated on April 26 of 2024.
New Zealand 10Y Bond Yield was 4.96 percent on Friday April 26, according to over-the-counter interbank yield quotes for this government bond maturity. The New Zealand 10-Year Government Bond Yield is expected to trade at 4.47 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4.26 in 12 months time.