The much-watched NZIER quarterly survey post is here:
The strength of the NZ economy evident in the survey drew quick responses, these for example:
- NZ bank ASB forecasts the RBNZ hiking its cash rate in November this year
- ANZ in New Zealand are also calling for RBNZ rate hikes sooner
ASB calling for a November rate is sure to be followed by similar projections from other analysts. ASB citing as reasoning for their moving forward of the rate hike call:
- inflation and demand gauges in the NZIER's Quarterly Survey of Business Opinion are so strong that it is increasingly clear that the RBNZ cannot afford to wait much longer before starting to reduce the amount of monetary stimulus currently in place
ANZ cite similar in their piece published after the survey (see that link above ANZ's reasoning).
NZD/USD jumped higher and has since sobbled along close to the session high: