An Insurance Business Magazine article.
New Zealand’s central bank is expected to raise interest rates for a second straight month and signal a more aggressive tightening cycle to contain inflation amid a labor shortage.
The Reserve Bank will lift the official cash rate by 25 basis points to 0.75% on Wednesday in Wellington, according to 21 of 23 surveyed economists. Two predict a hike to 1% and investors see a risk the RBNZ will opt for a 50 basis-point increase, but the bank could instead signal faster tightening ahead.