Expect an 'extended pause' to interest rate hikes – HSBC

Bank doesn't epxect any interest rate cuts until late 2024. (Image: HSBC)

Thu, 02 Nov 2023

Wednesday's weaker jobs numbers and the unexpectedly low third-quarter consumer price index (CPI) will see an "extended pause" to future interest price hikes by the Reserve Bank of New Zealand, according to Hongkong and Shanghai Banking Corp (HSBC).In his latest market note, HSBC chief economist for Australia and NZ, Paul Bloxham, said the rise in the unemployment rate to 3.9% over the third quarter, although historically low, is still well above the 3.2% trough.Importantly for the Reserve Bank (RBNZ), he said, the underlying...

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