The Reserve Bank of New Zealand meets on November 23 (local time). The current cash rate is 3.5%.

Reuters polling shows:

Comments from the Reuters report:

  • "To mash up the words of an American philosopher: when inflation's out the band, Gov, hike it like it's hot. Inflation pressures have appeared to heat the point that we and most forecasters expect the RBNZ will step up the pace of hikes to a 75 bp move on Wednesday," said Nick Tuffley, chief economist at ASB. Tuffley added part of the reason for stepping up the pace now is that the RBNZ's next policy decision is not due for another three months.
  • ANZ, ASB, Kiwi Bank, Bank of New Zealand and Westpac - expect a 75 bp hike on Wednesday
  • "The RBNZ has already proven that it's not in the least afraid to go its own way, and the global tilt towards slower hikes is unlikely to play a significant part in the decision," noted Sharon Zollner, chief economist at ANZ. "We are forecasting the OCR to peak at 5.0%, via another 75 bp hike in February on a 'let's just get it done' basis. If data cools more rapidly than expected the RBNZ could well slow the pace at that point."
rbnz dates 16 November 2022