Free Trial
AUSTRIA AUCTION RESULTS

10/30-year RAGBs

US TSY FUTURES

5yr block trade

FOREX

USD pares some losses

GILTS

Huge tail sees 10s30s steepen

GILT AUCTION RESULTS

0.50% Oct-61 Gilt

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
MNI (Sydney)
SYDNEY (MNI)

New Zealand’s central bank has cited the risks from persistently high inflation in its decision on Wednesday to increase interest rates by 50bps to 1.50%.

The RBNZ said the move in the Official Cash Rate was needed to reduce inflation expectations, and that a “stitch in time” approach to monetary policy was consistent with that aim. The RBNZ said it expected inflation to peak at around 7% in the first half of 2022, from 5.9% at the end of the fourth quarter. The bank has a target range for inflation of between 1% and 3%, see: MNI STATE OF PLAY: RBNZ Seen Aiming Hikes For A Softer Landing.

The 50bps rise came after three consecutive increases of 25 basis points at every meeting since October, when the OCR was at a record low of 0.25%.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.