RBNZ Shadow Board majority view is for a +75bp interest rate hike (cash rate to 4.25%)

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RBNZ Shadow Board majority view is for a +75bp interest rate hike (cash rate to 4.25%)

<p>Coming up in NZ this week - the Reserve Bank of New Zealand meet on Wednesday 23 November 2022 (NZ time).</p><p>Earlier posts on what to expect:</p><ul><li><a href="https://www.forexlive.com/centralbank/rbnz-meet-next-week-preview-likely-to-deliver-an-outsized-75bps-hike-to-425-20221116/" target="_blank" data-article-link="true">RBNZ meet next week - preview - "likely to deliver an outsized 75bps hike to 4.25%"</a></li><li><a href="https://www.forexlive.com/centralbank/poll-shows-most-analysts-expect-a-75bp-rate-hike-from-the-rbnz-next-week-20221117/" target="_blank" data-article-link="true">Poll shows most analysts expect a +75bp rate hike from the RBNZ next week</a></li></ul><p>The New Zealand Institute of Economic Research (NZIER) runs a '<a href="https://www.nzier.org.nz/publications/shadow-board-recommends-another-large-ocr-hike-in-november" target="_blank" rel="nofollow">shadow board</a>' of analysts. The Shadow Board is independent of the RBNZ and does not represent what the RBNZ is going to do but rather what their view is the RBNZ should do. That is, the Shadows do not preview what they think will happen, but what they think should happen.</p><ul><li>The majority view was that the OCR should increase by 75 basis points to 4.25 percent, given that strong action is required to bring down domestic inflation pressures. </li></ul><p>Check out that link above to the NZIER report for more detail. </p>

                This article was written by Eamonn Sheridan at forexlive.com.

Source: RBNZ Shadow Board majority view is for a +75bp interest rate hike (cash rate to 4.25%)

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