ANZ Bank now sees cash rate peaking at 3%

ANZ Bank now sees cash rate peaking at 3%
Sharon Zollner. (Image: supplied)
Rebecca Howard
ANZ Bank said the peak in the official cash rate will now be 100 basis points higher than it expected, hitting 3% by April 2023, as inflation ramps up and the labour market remains tight.“Assuming no abrupt developments such as a sharp re-pricing of risk globally (which we consider a very real risk, albeit an unforecastable one), we now believe the RBNZ will need to keep on hiking right on through our previous forecast of 2%,” said chief economist Sharon Zollner.The official cash rate (OCR) is currently at 0.75%. The next cash rate...

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