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Margin Call
5 mins to read
1

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.’

Stephen Bennie Tue, 18 Apr 2023

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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Stephen Bennie Tue, 18 Apr 2023
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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Tags
Margin Call Stephen Bennie inflation interest rates investment OCR official cash rate (OCR) RBNZ Monetary Conditions Index monetary policy statement
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