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- RBNZ set to deliver third rate hike, signal faster tightening – Bloomberg survey
RBNZ set to deliver third rate hike, signal faster tightening – Bloomberg survey
The Reserve Bank of New Zealand is expected to deliver a 25 basis points (bps) rate hike for the third meeting in a row, as the central bank strives to combat soaring inflation, the latest Bloomberg survey of 20 economists showed.
The RBNZ is set to announce its policy decision on Wednesday at 0100 GMT. It will also publish new forecasts in its quarterly Monetary Policy Statement.
Read: Reserve Bank of New Zealand Preview: Kiwi needs a double shot hike to fly higher amid geopolitical risks
Key findings
“The Reserve Bank will lift its official cash rate by 25 basis points to 1% Wednesday in Wellington, a majority of the economists polled showed.”
“Two predict a 50-point move. The Monetary Policy Committee may project an OCR of about 2.5% by year-end, a more aggressive upward path than previously forecast that would require a hike at each policy meeting in 2022.”
“Economists also expect the RBNZ to explain how it will start to reduce its balance sheet, which swelled during its quantitative easing bond-purchase program.“
“Several expect the central bank to begin selling small amounts of government bonds to the Treasury Department.”
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