COVID-19: NZ holds rates as Delta variant spreadsSUSPENSION: Projections published by the New Zealand central bank shows the official cash rate rising at least once later this year, suggesting an imminent rate hikeBloombergThe Reserve Bank of New Zealand (RBNZ) yesterday refrained from raising interest rates amid a COVID-19 outbreak and nationwide lockdown, but left little doubt it intends to start lifting them soon. Light traffic travels over Auckland Harbour Bridge during a nationwide lockdown in Auckland, New Zealand, yesterday. Photo: Bloomberg“The committee discussed the merits of an increase in the OCR at this meeting,” the RBNZ said. Should the lockdown succeed in stamping out community transmission of the virus, the RBNZ could raise rates as soon as its next meeting in October. In its previous forecasts in May, the RBNZ did not expect to start raising rates until the second half of next year.

Source: Taipei Times August 18, 2021 16:03 UTC