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VIEW: Kiwibank Lift OCR Hiking Cycle View

RBNZ

Kiwibank note that "the time of cheap money is over, and interest rates are rising, swiftly. The RBNZ hiked the cash rate 25bps today and signalled many more to come. The need for emergency settings is no more. The RBNZ's latest round of forecasting paint a strong Kiwi economy at present and going forward. The labour market is set to tighten further, and we're yet to see the peak in inflation. The new OCR track has pulled forward expected hikes and lifted the end point to 2.6%. We now expect the cash rate to hit 2.5% in 2023 (up from 2%)."

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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