The Reserve Bank of New Zealand ... actually let me repeat what I posted yesterday:
All four of the largest New Zealand banks have now forecast a rate hike at the November meeting. ASB led it off yesterday, followed by BNZ, it was a busy day in NZ yesterday, the posts of relevance (read from the bottom up for the chronology):
- In bringing forward its forecast for an RBNZ rate hike in November, BNZ says the time to hike is now
- BNZ now forecast the REBNZ to hike its cash rate in November 2021
- Heads up for NZD traders - the next RBNZ Monetary Policy Review is July 14
- More on NZ banks calling RBNZ rate hikes sooner (ASB forecasting November this year)
- More RBNZ rate hike speculation - sooner rather than later
- ANZ in New Zealand are also calling for RBNZ rate hikes sooner
- NZD/USD on the rise after the QSBO and ASB's RBNZ cash rate hike call
- NZ bank ASB forecasts the RBNZ hiking its cash rate in November this year
- New Zealand QSBO for Q2 2021, business confidence headline 7% (vs. -13% prior)
Today we had the other two big NZ banks follow suit:
Next week's RBNZ review will be watched very closely indeed for nuances of moves in the language used. Governor Orr has surprised markets before, its going to be an interesting meeting.
The RBNZ November rate hike bus:
