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Over three-quarters of respondents, 20 of 25, in a Feb. 13-16 Reuters poll said the RBNZ would go for a 50 basis point hike next week, taking the official cash rate to 4.75%, following a jumbo 75-basis point hike in November.
The consensus for the next RBNZ meeting is for a 50bps rate hike with analysts from ING arguing the peak is close.
Source: https://www.forexlive.com/news/market-outlook-for-the-week-of-20-24-february-20230220/
The New Zealand central bank (RBNZ) raised its key rate by a half-point to 4.75% and kept its forecast for it to peak at 5.50%.
The RBNZ meets this week (on Wednesday in New Zealand with rate decision at 10 PM ET on Tuesday).
"The report will give the RBNZ more confidence that inflation peaked at around the turn of the year which increases the likelihood that the RBNZ could pause their rate hike cycle at their next policy meeting on 24th May," MUFG adds.
"The report will give the RBNZ more confidence that inflation peaked at around the turn of the year which increases the likelihood that the RBNZ could pause their rate hike cycle at their next policy meeting on 24th May," MUFG adds.