NZ central bank hikes rates by 50bps, as expected, flags more to come | Inquirer Business

NZ central bank hikes rates by 50bps, as expected, flags more to come

/ 09:31 AM February 22, 2023

WELLINGTON  – New Zealand’s central bank raised interest rates by 50 basis points to a more than 14-year high of 4.75 percent on Wednesday, and said it expects to keep tightening further to ensure inflation returns to within its target range over the medium term.

Twenty of 25 economists in a Reuters poll forecast the Reserve Bank of New Zealand (RBNZ) would move by 50 basis points, the tenth straight hike since it began tightening in October 2021.

It continues to expect the cash rate to peak at 5.5 percent in 2023, according to the monetary policy statement (MPS).

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Inflation, interest rate hike, New Zealand

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.