Post on the Reserve Bank of New Zealand decision is here:
Reserve Bank of New Zealand cash rate hike of 50bps, as expected
The Bank is looking for even higher rates ahead, this from that post linked above:
- In September 2022, the RBNZ expects the official cash rate to be 2.68% (previous 1.89%).
- By June 2023, the RBNZ expects the official cash rate to be 3.88% (previous 2.84%).
- In September 2023, the RBNZ expects the official cash rate to be 3.95% (previous 3.1%).
That 3.95% is expected to be the peak says the RBNZ. The peak was previously seen at 3.35% by the Bank.
NZD /USD has rocketed higher:
