Inflation response: Looks a lot like 1997 all over again
ANALYSIS: The RBNZ response to high levels of inflation the economy has been experiencing.
‘There is a real risk that this latest 0.50% OCR hike is the straw that breaks the camel’s back.’
Let’s jump back in time to 1997 when the Reserve Bank of New Zealand was just about to make a horrible policy error. The fallout from the error saw the RBNZ abandon its use of the Monetary Conditions Index for determining interest rate settings, and the sorry episode became the topic of case
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