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 today showed unemployment rose to 4% in the December quarter. Economists and the RBNZ had expected 4.2% or 4.3%. 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, Westpac, Michael Gordon, Stats NZ.
Unemployment has risen to 4% – below expectations – while wages increased in the public sector late last year.
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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 today showed unemployment rose to 4% in the December quarter. Economists and the RBNZ had expected 4.2% or 4.3%. 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, Westpac, Michael Gordon, Stats NZ.
