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Fitch Sees RBNZ Raising OCR Next Week, Says Hikes Would Aid Banks' Profitability

RBNZ

Fitch says in a statement that "if the RBNZ opts to raise interest rates in response to tightening labour markets and emerging price pressures, the net effect will probably be credit positive for New Zealand banks". They note that they "expect the RBNZ to begin raising interest rates at its meeting on 18 August," which could aid banks' profitability due to "increased returns on bank assets, particularly loans," although "the positive earnings impact from any rate hikes may take some time to flow through".

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