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ANZ forecasts the RBNZ to raise the cash rate to 5.75% in July

The Reserve Bank of New Zealand OCR is currently 5.25%more to comeANZ report (in summary):We expect the RBNZ will raise the Official Cash Rate (OCR) 25bp to 5.50% at its Monetary Policy Statement (MPS) next Wednesday. We see a 20% chance of a 50bp hike and a 5% chance of a pause. Either could backfire by driving down future OCR expectations. We are building one more 25bp hike in July into our own OCR forecast, which would take the OCR to 5.75%. The (relatively) happy place to sit and “watch, wor... Read More

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Posted: May 17 2023, 00:09

Author Name: forexlive

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