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- RBNZ to hike 25bp next week - MUFG
RBNZ to hike 25bp next week - MUFG
eFXdata reports that analysts at MUFG Research discuss their expectations for next week's RBNZ policy meeting.
"In light of the stronger labour market data for Q2 and lingering concerns over financial stability risks from the domestic housing market, we now expect the RBNZ to begin rate hikes at next week’s (Wed) meeting. There is even the non-negligible risk of a larger 0.50 point hike. Policy communication over the need for further rate hikes will be important as well given the market has moved to price in over 100bps of hikes in the year ahead."
"Any setback for the NZD should prove short-lived. We expect at least two rate hikes from the RBNZ before the end of this year well ahead of the RBA which is not planning to hike rates until 2024."
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