ANZ predicts steeper rate hikes to curb inflation

Tue, 08 Mar 2022

ANZ Bank says the central bank needs to go harder to curb inflation and now predicts back-to-back 50 basis point rate hikes in April and May.It now sees the official cash rate reaching a peak of 3.5% in April 2023, versus a prior forecast of 3%. The OCR is currently 1%.The “change comes primarily on the back of our updated CPI (consumers price index) forecasts that now have inflation peaking at a broad-based 7.4% in Q2, rather than the RBNZ’s MPS (monetary policy statement) forecast of a 6.6% peak in Q1”, said chief economist...

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