Could the RBNZ set off fireworks?

Bank economists see possible fireworks ahead for New Zealand interest rates. (Image: Getty)

Mon, 27 Nov 2023

The Reserve Bank of New Zealand is widely expected to keep rates on hold at 5.5% on Wednesday, but the forecast rate track could set off fireworks. ASB Bank chief economist Nick Tuffley said that “recent events will make the RBNZ [Reserve Bank of NZ] more comfortable with its on-hold stance”, noting that inflation pressures look to be easing as fast or faster than it forecast.“The risk that the RBNZ hikes any further has diminished,” Tuffley said. Could be earlierHe still expects the RBNZ to wait until Feb...

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