RBNZ set to hike OCR by 50 bps this week, economists eye lower peak – Reuters poll
|According to the latest Reuters poll of economists, the Reserve Bank of New Zealand (RBNZ) is widely expected to hike the Official Cash Rate (OCR) by 50 basis points(bps) at Wednesday's policy review, taking the cash rate to 3.00% and marking the most aggressive tightening since 1999.
Also read: NZIER: Recommends RBNZ to hike OCR by 50 bps in August
Key findings
“While the RBNZ has signalled plans to increase the rate to 4.00% by mid-2023, almost matching the US Federal Reserve, few see it reaching that level. “
“A handful were actually expecting rates to start easing by mid-next year.”
“That shift in market pricing has been driven by signs of a weakening economy amid the tightening in financial conditions.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.