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VIEW: ANZ: Yikes, Forecast Hikes

RBNZ

ANZ note that "the RBNZ left the OCR unchanged today but reintroduced an OCR track. This implied hikes from the middle of next year, with the OCR reaching 1.78% by June 2024 – much more hawkish than expected."

  • "The RBNZ's forecasts for growth, employment and inflation were revised higher."
  • "The OCR track is in line with our view that the RBNZ will start to lift in August next year but the risks are now skewed towards earlier. We'll be watching inflation expectations data particularly closely."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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