The Reserve Bank of New Zealand (RBNZ) left the cash rate at 3.0% earlier today, as expected. What’s more, the Monetary Policy Statement (MPS) was downbeat, yet again. We have adjusted our forecast and now anticipate that the cash rate will move up from mid-2011, rather than in Q1. However, we continue to expect that the cash rate will be lifted to 4.0-5.0% by mid-2012, which is higher than the RBNZ and the markets currently anticipate.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services