When we'll know if rates really are nearing their peak

By Daniel Moss Here's a central bank that has embraced the idea of a recession rather than tiptoeing around the subject. Officials proclaim that aggressive interest-rate hikes are holding the economy back. Inflation remains much too high for comfort and talk of a dovish pivot borders on sedition. We are talking about the Reserve Bank of New Zealand (RBNZ), a proud early mover in the fight against price jumps – and one that may soon undergo its own form of recalibration. The transition that has been under way for some ti...