RBNZ set to hike OCR by 25bps to 0.50% on Wednesday – Reuters poll

Dhwani Mehta FXStreet

The Reserve Bank of New Zealand (RBNZ) is widely expected to hike interest rates when it meets on Wednesday, kicking off the first Asia-Pacific tightening cycle since the beginning of the covid pandemic, the latest Reuters poll of 32 economists showed.

Key takeaways

“Expect the Reserve Bank of New Zealand (RBNZ) to raise the official cash rate (OCR) by 25 basis points from a record low to 0.50% at its policy meeting on Wednesday.”

“At least one economist expects a 50 basis-point hike this week.”

“Most agree that there is more tightening coming and see the OCR reaching 1% by the end of the year and 1.5% by the end of next year.”

Ex-RBNZ Governor Grimes calls for a 50bps rate hike – MNI

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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