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...

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