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Economy

RBNZ expected to hike rates, despite economic 'straitjacket'

Rebecca Howard
Mon, 04 Oct 2021

RBNZ expected to hike rates, despite economic 'straitjacket'
ANZ's Sharon Zollner says 40% of the economy is constricted. (Image: Getty)
Rebecca Howard
Mon, 04 Oct 2021
The Reserve Bank of New Zealand is poised to lift the official cash rate by 25 basis points to 0.5% on Wednesday, marking an end to extended stimulus to help offset the impact of covid-19.“The economy is clearly still running hot and the RBNZ should be comfortable withdrawing stimulus at its upcoming meeting,” said Capital Economics Australia and NZ economist Ben Udy. “With labour market still very tight and inflation surging, we think the bank will hike by a further 25bps in November this year and eventually hike rates t...

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