Free Trial
OUTLOOK

What to watch

WTI TECHS

(Z2) Remains Above Support

SOUTH AFRICA

Ramaphosa Secures Extra $10bln in Climate Funding

GOLD TECHS

Strong Rally Exposes Key Resistance

BUNDS

German Bund supply the early focus

BRENT TECHS

(F3) Corrective Pullback

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 STATE OF PLAY: RBNZ To Hike 50bps, Still Has Work To Do

MNI (PERTH)
MNI (Perth)

New Zealand's central bank is expected to lift rates to the highest since 2015 as a tight jobs market, rising wages and corporate pricing intentions stoke inflation.

The Reserve Bank of New Zealand is expected to hike rates for an eighth consecutive meeting on Oct 5 after Governor Adrian Orr warned earlier last week that policymakers “still have some work to do”.

The Official Cash Rate is expected to be raised 50bps to 3.5%, the highest since early-2015, as the Bank seeks to return inflation to the midpoint of its 1-3% target band. CPI rose at a 7.3% y/y pace in the June quarter.

Keep reading...Show less
364 words

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.

The Reserve Bank of New Zealand is expected to hike rates for an eighth consecutive meeting on Oct 5 after Governor Adrian Orr warned earlier last week that policymakers “still have some work to do”.

The Official Cash Rate is expected to be raised 50bps to 3.5%, the highest since early-2015, as the Bank seeks to return inflation to the midpoint of its 1-3% target band. CPI rose at a 7.3% y/y pace in the June quarter.

Keep reading...Show less