More on NZ banks calling RBNZ rate hikes sooner (ASB forecasting November this year)

The much-watched NZIER quarterly survey post is here:

• New Zealand QSBO for Q2 2021, business confidence headline 7% (vs. -13% prior)

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: