RBNZ opens the door to another rate hike

The battle with inflation could be a long one. (Image: Getty)

Wed, 16 Aug 2023

New Zealand’s central bank is still worried about inflation, and its latest monetary policy statement opens the door to another hike with rates staying higher for longer. While the current level of activity constrains spending and hence inflation, “there is a risk that activity and inflation measures do not slow as much as expected,” the monetary policy committee said.“It is assumed that the official cash rate [OCR] will need to remain at around its current level for slightly longer than was assumed in the May state...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

On the Money

On The Money: 50 Cent Luxon, crime, cones and more...

PM took a police squad to Chemist Warehouse. Next stop: JB Hi-Fi with an army?

Dileepa Fonseka 5:00am

Fail File

The Fail File: Trish Clark, art expert and gallery owner

'Worrying is pointless and a waste of energy in a crisis'.

Victoria Carter 5:00am

The Fail File: Trish Clark, art expert and gallery owner

Opinion

Simon Robertson: Nike. Are they doing it?

Business models are incredibly important. Nike’s is flaying.

Simon Robertson 5:00am

Sponsored

NZ’s “terrible” statistic

Course aims to build employee resilience & business productivity.

Resilient Minds

Sponsored

Digital skills shortage hurting NZ

2degrees study: many companies failing to leverage technology.

2degrees

More Economy

Economy

ANZ survey: ‘The worst will soon be past’

ANZ-Roy Morgan's survey shows that consumer confidence bounced back from recessionary lows in July.“It’s still very low but has clawed back about half the March-April fall that coincided with ‘recession’ headlines. The lift was driven by improving expectations rather than the...

Staff reporters 26 Jul 2024