Kiwi Jumps as ANZ Bank Predicts RBNZ Will Resume Rate Hikes
- NZ central bank will raise cash rate to 6%, ANZ economists say
- Latest data point to stronger inflation pressure: Zollner
Adrian Orr, governor of the Reserve Bank of New Zealand (RBNZ).
Photographer: Mark Graham/BloombergThis article is for subscribers only.
The kiwi climbed and bonds fell after ANZ Bank economists said New Zealand’s central bank will resume hiking interest rates later this month because inflation is not yet under control.
The Reserve Bank will raise the Official Cash Rate by a quarter percentage point to 5.75% in late February and repeat the dose in April, taking the benchmark to 6%, ANZ’s Auckland-based chief New Zealand economist Sharon Zollner predicted on Friday. Previously, Zollner’s team expected no change until a rate cut in August.