Still to come from the RBNZ - testimony due on Thursday, 24 November 2022 (local time)

Coming up at 2000 GMT on Wednesday, 23 November 2022, which is Thursday morning, 24 November, in New Zealand:

• Reserve Bank of New Zealand Governor Adrian Orr and members from his senior executive team will be testifying in front of the Finance and Expenditure Committee of the New Zealand parliament.

In reference to the cash rate hike today as the Bank tries to rein in 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:

• RBNZ raise cash interest rate target by +75bp to 4.25%, as widely expected
• NZD/USD higher after the Reserve Bank of New Zealand raises its cash rate target by 75 bp

• Headlines greeting the RBNZ rate hike: "New Zealand delivers its biggest rate hike ever"

• Responses to the RBNZ +75bp rate hike - ASB forecast cash rate at 5.5% by April 2023

• RBNZ Orr says it will be a shallow recession
• ANZ are now forecasting an RBNZ peak cash rate at 5.75% (vs. current OCR at 4.25%)

• More from the RBNZ news conference: Tightening cycle mature, closer to end than beginning