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BNZ now expects the RBNZ cash rate to peak at 5% (vs. 5.5% prior forecast)

Eamonn Sheridan
31/01/2023 | 22:26 GMT

BNZ still forecast a 50 rate hike on February 22 from the Reserve Bank of New Zealand.

The revision to the terminal rate comes after the jobs data earlier:

  • New Zealand jobs report for Q4 2022: Unemployment rate 3.4% (expected 3.3%)
  • NZD/USD drops a few points after the New Zealand jobs market report

The RBNZ cash rate is currently 4.25%

rbnz cash rate 01 February 2023

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