RBNZ Shadow Board majority view is for a +75bp interest rate hike (cash rate to 4.25%)

Coming up in NZ this week - the Reserve Bank of New Zealand meet on Wednesday 23 November 2022 (NZ time).

Earlier posts on what to expect:

• RBNZ meet next week - preview - "likely to deliver an outsized 75bps hike to 4.25%"
• Poll shows most analysts expect a +75bp rate hike from the RBNZ next week

The New Zealand Institute of Economic Research (NZIER) runs a 'shadow board' of analysts. The Shadow Board is independent of the RBNZ and does not represent what the RBNZ is going to do but rather what their view is the RBNZ should do. That is, the Shadows do not preview what they think will happen, but what they think should happen.

• The majority view was that the OCR should increase by 75 basis points to 4.25 percent, given that strong action is required to bring down domestic inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term pressures.

Check out that link above to the NZIER report for more detail.