ASB, BNZ, Westpac, and ANZ are all now forecasting an interest rate rise from the Reserve Bank of New Zealand in November this year.
ICYMI, last week was an active one in New Zealand, all 4 of the largest banks in NZ making the call
- ANZ forecast an RBNZ cash rate hike in November
- WPAC forecasts an RBNZ rate hike in November
- In bringing forward its forecast for an RBNZ rate hike in November, BNZ says the time to hike is now
- BNZ now forecast the REBNZ to hike its cash rate in November 2021
- Heads up for NZD traders - the next RBNZ Monetary Policy Review is July 14
- More on NZ banks calling RBNZ rate hikes sooner (ASB forecasting November this year)
- NZD/USD on the rise after the QSBO and ASB's RBNZ cash rate hike call
- NZ bank ASB forecasts the RBNZ hiking its cash rate in November this year
- New Zealand QSBO for Q2 2021, business confidence headline 7% (vs. -13% prior)
- Market pricing for an RBNZ November rate hike is above 70%
Kiwibank have released its preview of this week's RBNZ policy meeting (July 14 - RBNZ policy meeting this week - shadow board evenly split on tighter policy)
Comments from Kiwibank (in brief from a much longer piece):
- The RBNZ's dual mandates seek maximum employment, and stable inflation. The labour market may be full, of employment. And prices have risen sharply. House price growth is unsustainable also.
- The need to normalise policy, or at least unwind some stimulus, is up for debate. The LSAP (QE) program will end, soon enough.
- Rate hikes are coming. Although November feels too early to us.
RBNZ boyz about to start heading upstairs again real soon:
