RBNZ projections point to interest rate hikes in 2022

The central bank, headed by Adrian Orr, is mandated with keeping inflation between 1% and 3%.

Wed, 26 May 2021

New Zealand’s central bank kept the official cash rate on hold at 0.25% as widely expected but its forecasts now point to higher interest rates by September 2022.“The committee noted that medium-term inflation and employment would likely remain below its remit targets in the absence of prolonged monetary stimulus,” it said.The Reserve Bank is mandated with keeping inflation between 1% and 3% with a focus on the midpoint and supporting maximum sustainable employment.It still expects a short-term spike in inflation over the next...

Subscribe to BusinessDesk

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

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

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].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

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 }}

World

'Quite sad': Renters turn to lottery in Spain's housing crisis

44,000 applicants for Madrid apartments, only 64 winners.

Agence France-Presse 5:00am

On the Money

On The Money: Shihad, woke, and more...

No prizes for guessing which investment summit attendee is a Shihad fan.

Dileepa Fonseka 5:00am

Energy

Controversial pipeline reveals state of global fight over oil

What are the consequences of leaving an African nation’s oil in the ground?

The Washington Post 5:00am

Controversial pipeline reveals state of global fight over oil

Sponsored

The new face of luxury Scotch: Harrison Ford, the Traitors castle and an E-Type Jag

Harrison Ford’s Glenmorangie campaign breaks all the rules.

Glenmorangie Whiskey

Sponsored

Mastering market swings

ETFs can be a "smart" way to build a long-term, diverse portfolio.

Smart

More Economy

Economy

Spending up 3.7% in year, Westpac data says

Westpac’s senior economist, Satish Ranchhod, says spending is "starting to pick up again" after the bank’s data showed a 3.7% annual rise in spending on Westpac-issued credit and debit cards. Westpac's Retail Spending Pulse, released on Friday, showed the upward shift was hel...

Staff reporters 14 Mar 2025