More aggressive interest rate hikes on the horizonNew data released yesterday showed New Zealand's annual inflation rate remained elevated in the September quarter. There is now a real likelihood of the Reserve Bank lifting the OCR by 75 points at its next review on November 23. The Reserve Bank is, in coming months, due to release a peer-reviewed assessment of the way it set monetary policy over the past five years. "The Reserve Bank distorted government policymaking by giving it cheap credit, now we are all paying the cost, literally in the rising price of everything," Seymour said. The Opportunities Party leader Raf Manji said it was time for central bankers to pause interest rate hikes.

Source: New Zealand Herald October 19, 2022 02:04 UTC