-
Higher interest rates necessary
The Committee agreed that the OCR needs to reach a higher level, and sooner than previously indicated, to ensure inflation returns to within its target range over the medium term. Core consumer price inflation is too high, employment is beyond its maximum sustainable level, and near-term inflation expectations have risen. Global consumer price inflation is broad based and remains heightened. Food and energy prices, and persistent core inflation, have combined to create very high headline inflation in many countries. Central banks are tightening monetary conditions in an effort to slow spending and reduce inflation ... (full story)
-
RBNZ: MEMBERS AGREED THAT A LARGER INCREASE IN THE OCR WAS NECESSARY.
— Breaking Market News (@financialjuice) November 23, 2022
-
RBNZ: WE EXPECT THE CASH RATE TO RISE HIGHER TO A PEAK OF 5.5% IN 2023, FROM 4.1% PREVIOUSLY.
— Breaking Market News (@financialjuice) November 23, 2022
-
RBNZ: MEMBERS AGREED THAT OCR NEEDED TO REACH A POINT WHERE IT WAS CONFIDENT OF REDUCING ACTUAL INFLATION TO WITHIN THE TARGET RANGE.
— Breaking Market News (@financialjuice) November 23, 2022
-
RBNZ: MEMBERS AGREED THAT THIS LEVEL HAD RISEN SINCE THE AUGUST STATEMENT.
— BTBMarkets (@BTBMarkets) November 23, 2022