What’s at stake:Whether the RBNZ needs to hike the official cash rate again in 2024 because of stubborn inflation pressures.
Background: Stats NZ data out last month showed inflation fell to 4.7% in the year to December. The central bank kept the OCR at 5.5% in November. But it said it had a ‘willingness’ to hike again, if needed, this year.
Key players: RBNZ, Adrian Orr, Paul Conway, Stats NZ, ANZ, Sharon Zollner.
The country’s largest bank is now forecasting a double-whammy from the RBNZ early this year, with rate hikes this month and April.
As a result, ANZ chief economist Sharon Zollner now expects an official cash rate peak of 6%, with cuts from February next year, “ultimately taking the OCR back to
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Key points
What’s at stake:Whether the RBNZ needs to hike the official cash rate again in 2024 because of stubborn inflation pressures.
Background: Stats NZ data out last month showed inflation fell to 4.7% in the year to December. The central bank kept the OCR at 5.5% in November. But it said it had a ‘willingness’ to hike again, if needed, this year.
Key players: RBNZ, Adrian Orr, Paul Conway, Stats NZ, ANZ, Sharon Zollner.
