According to the latest Reuters poll of economists, the Reserve Bank of New Zealand (RBNZ) is likely to make no adjustments to its monetary policy this week, but might begin tightening later this year.
“The Reserve Bank of New Zealand (RBNZ) will keep the official cash rate (OCR) at 0.25 percent on Wednesday, the lowest level since a pandemic-related drop in March last year.”
“At least a quarter of them now expect a rate hike later this year, according to a business survey released last week that showed a substantial improvement in outlook while also pointing to rising capacity pressures and inflation.”
“RBNZ’s statement this week may eliminate a reference to “much time and patience,” which would be a significant change.”/n
