RBNZ projections point to interest rate hikes in 2022

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%.
Rebecca Howard
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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