The Reserve Bank will keep firing big guns to dampen inflation

The Reserve Bank is trying to take the heat out of inflation, which is running at 7.3%. (Image: Getty)

Mon, 03 Oct 2022

Rates are going up again this week, with the Reserve Bank of New Zealand (RBNZ) poised to raise the official cash rate by another 50 basis points to 3.5%.“The RBNZ is likely to hike by another 50 basis points to 3.5% and to signal further increases ‘at pace’," said Westpac Bank economists.The move will mark the Reserve Bank's eighth consecutive hike as it looks to take the heat out of inflation, which is running at 7.3%. The central bank is mandated with keeping inflation between 1% and 3%, with a focus on the midpoin...

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