RBNZ opens the door to another rate hike

The battle with inflation could be a long one. (Image: Getty)

Wed, 16 Aug 2023

New Zealand’s central bank is still worried about inflation, and its latest monetary policy statement opens the door to another hike with rates staying higher for longer. While the current level of activity constrains spending and hence inflation, “there is a risk that activity and inflation measures do not slow as much as expected,” the monetary policy committee said.“It is assumed that the official cash rate [OCR] will need to remain at around its current level for slightly longer than was assumed in the May state...

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