Dollar & swaps jump as RBNZ signals rate hikes

Wed, 26 May 2021

The kiwi dollar and swap rates spiked after the Reserve Bank of New Zealand's official cash rate forecast projected hikes from next year.The central bank left its policy settings unchanged in today’s monetary policy statement but indicated they wouldn’t stay that way for long. The official cash rate is now expected to begin climbing next year — and keep climbing until it hits 1.8% in 2024 — as global economic recovery continues and supply-chain disruptions ease. David McLeish, head of fixed income at Fisher...

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