Rate hikes may be coming sooner than we think

Reserve Bank is now picked to move this year on interest rate rises. (Image: Getty))

Tue, 06 Jul 2021

ASB Bank is now forecasting a Reserve Bank rate hike in November on the back of strong inflation and demand data in the New Zealand Institute of Economic Research’s latest business opinion survey. “It is very clear that record amounts of monetary stimulus are no longer needed to support the economy. With inflation risks getting too high for comfort, we now expect the RBNZ to start lifting the OCR from November this year (previously May 2022),” ASB senior economist Jane Turner said. New Zealand’s official cash r...

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