ANZ Bank more hawkish, now expects two rate hikes

(Image: Getty)

Fri, 09 Feb 2024

ANZ Bank is now forecasting two more rate hikes – one this month and one in April – taking the official cash rate to 6%.It is now expecting rate cuts to begin in February 2025 and for the OCR eventually to be 3.5%. The Reserve Bank (RBNZ) warned in November that if inflation pressures were to be stronger than anticipated, the official cash rate would have to move higher, ANZ Bank chief economist Sharon Zollner said. “Data since then has been a series of small but pretty consistent surprises in that direction.”T...

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