Five charts explain why rates are set to rise

A slew of economic indicators are pointing to looming inflation. (Image: Deposit Photos)

Fri, 16 Jul 2021

Forget the negative official cash rate, interest rate hikes are now imminent, with bank economists falling over themselves to bring forward their forecasts for an increase.After reading the tea leaves from the Reserve Bank of New Zealand’s monetary policy review on Wednesday, all four major banks said they now anticipate an increase in August – assuming a continuation of stronger than expected economic data.ASB even decided to get in early and increased their mortgage rates.Previous RBNZ forecasts had the first hikes occurring in Se...

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