Economists now beating drums for August rate hike

ANZ is now forecasting a 25-basis point rate hike in August. (Image: Deposit Photos)

Wed, 14 Jul 2021

Today’s central bank statement has been widely viewed as hawkish with some economists now saying the first rate hike will come in August.The Reserve Bank of NZ left interest rates on hold at 0.25% but will halt its large scale asset purchase programme by July 23.“The committee noted that medium-term inflation and employment would likely remain below its remit objectives in the absence of some ongoing monetary support,” the monetary policy committee said.The central bank is mandated to keep inflation between 1% and 3%, focusing...

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