Further rate hikes look to be off the table

The annual inflation rate dropped back to a lower-than-expected 5.6%. (Image: Getty)

Tue, 17 Oct 2023

It looks like further rate hikes are off the table, at least for now. The perceived chance of a rate hike by the Reserve Bank of New Zealand (RBNZ) in November dropped from around 34% to 10% after Tuesday's consumers price index (CPI) data showed that annual inflation eased to 5.6% in the September quarter.The chance of any further rate hike dropped from around 84% to 40%, according to BNZ Bank's head of research, Stephen Toplis. A first-rate cut is now priced in for February 2025, a few months earlier than previously. &#...

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