BNZ now forecast the RBNZ to hike its cash rate in November 2021 Bank of New Zealand forecast, joining ASB from earlier.
ICYMI, more on the earlier rate hike calls is here: ForexLive Asia FX news wrap: NZD higher on strong business survey, sooner RBNZ rate hike expectations.
In their research piece today BNZ note that the RBNZ meet next week ... and:
- As we said in our preview, yesterday, we actually think the conditions are ripe to tighten now. But this would probably be a leap too far for the Bank.
- Inflation and maximum sustainable employment are the RBNZ's targets. If you believe half of what you see in the QSBO, the Bank has not only met both objectives but is well on the way to exceeding them, particularly if it continues to let things accelerate in the current manner.
Bolding is mine (for emphasis).
I posted earlier today on the schedule ahead for the RBNZ policy meetings. Is it out of the question we could get a hike from the Bank prior to November? Governor Orr has carried on in previous Governor Wheeler's footsteps as being a many of action ....
