RBNZ is on a hiking spree while the RBA is pivoting

RBA governor Philip Lowe takes a softer approach. (Image: Getty)

Mon, 10 Oct 2022

New Zealand is in for tougher times than its big brother across the Tasman, if the Reserve Bank of NZ's (RBNZ) steeper hiking cycle than the Reserve Bank of Australia's (RBA) more moderate approach is anything to go by.Last Tuesday, the RBA increased its cash rate target by 25 basis points to 2.6%, in what has been described as a “pivot”. While the RBA – like the RBNZ – remains "resolute" in its determination to tame rampant inflation, Australia's central bank noted that rates have increased su...

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