ANZ now expects a rate hike at the end of this year while market pricing indicates a chance of September move, after annual inflation came in at 3.1% today.
Annual inflation has tipped out of the Reserve Bank’s 1-3% target band for the first time since 2024, reinforcing the view that the central bank is done and dusted with rate cuts and bringing forward expectations of the first rate hike.
Statistics NZ data today showed inflation rose from 3% to
