RBNZ set to keep the foot to the floor with another 50-point Official Cash Rate hike - News Summed Up

RBNZ set to keep the foot to the floor with another 50-point Official Cash Rate hike


Second, will the central bank still be picking a 'peak' OCR of around 4%? The June quarter Consumers Price Index release showed an annual inflation rate of 7.3%, versus an RBNZ forecast of just 7.0%. The June quarter labour market data showed unemployment rising to 3.3% from 3.2%, when the RBNZ expected a fall to 3.1%. Wholesale interest rates have been easing back. Mortgage interest rates, which have rocketed in the past 12 months, have eased back very slightly in the past few weeks in reflection of these easing wholesale rates.


Source: Stuff August 14, 2022 00:18 UTC



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