RBNZ could hike 50 basis points and signal more to come

RBNZ could hike 50 basis points and signal more to come
The RBNZ is widely expected to hike but it remains to be seen by how much. (Image: Getty)
Rebecca Howard
Last week’s budget and stronger-than-expected migration could result in the Reserve Bank of New Zealand (RBNZ) hiking by another 50 basis points to 5.75% this week and signal more hikes to come. “We had previously thought that the RBNZ would do a final 25bp increase on May 24. Post-Budget, we now expect a 50bp lift in May,” said ASB chief economist Nick Tuffley.  “We think that will be it, but that the RBNZ will flag the risk of a further hike.”The central bank has lifted the official cash rate (OCR) from...

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