Reserve Bank of New Zealand - inflation, expected inflation too high, needs to be reduced

Reserve Bank of New Zealand

As I said yesterday, again, the RBNZ is hiking rates into a recession.

Statement from the RBNZ now confirming this if there is any doubt:

• Actual and expected 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 is too high and needs to be reduced.
• We expect spending to slow and unemployment levels to increase as more people join the workforce over the coming year.
• Expect spending to slow and unemployment levels to increase as more people join the workforce over the coming year
• It is anticipated that the level of employment will remain high.
• Even with the expected slowdown in the period ahead, it is anticipated that the level of employment will remain high

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The path of the RBNZ rate hikes, so far (pic is from November 23, the last time the Bank met - the next meeting is late February 2023)