RBNZ says even more increases needed but not everyone agrees

The OCR is set to hit close to 2.5%. (Image: BusinessDesk)

Wed, 24 Nov 2021

The Reserve Bank of New Zealand lifted the official cash rate 25 basis points to 0.75% and signalled a more aggressive hiking cycle but not everyone is buying it. “The committee agreed it remains appropriate to continue reducing monetary stimulus so as to maintain price stability and support maximum sustainable employment,” the Reserve Bank of New Zealand (RBNZ) said. Annual inflation is currently 4.9%, above the central bank’s 1% to 3% target range and employment is now above its maximum sustainable level.The centra...

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