More interesting than the Reserve Bank of New Zealand (RBNZ) having now left interest rates unchanged at 1.75% for a year was the Bank’s verdict on the impact of the new government. It believes that GDP growth will be fast for longer, inflation will be higher, the unemployment rate will be lower and interest rates may have to rise a bit earlier in 2019. We believe that rates will stay at 1.75% for two more years.
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