RBNZ has done enough to curb inflation, banks say

Sharon Zollner is a lone voice among the big four trading banks on forecasting another OCR hike. (Image: Kapiti News)

Mon, 12 Feb 2024

Three trading banks on Monday said the official cash rate had gone high enough, although they wouldn’t completely rule out the Reserve Bank of New Zealand raising rates anyway.The Bank of NZ (BNZ), ASB and Kiwibank all said economic indicators were moving in the right direction to cool inflation, even if some weren’t moving as quickly as expected. On the other hand, the market had already priced in a rise in the official cash rate (OCR) before May, which could become a self-fulfilling prophecy.On Friday, the ANZ forecast two mo...

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