RBNZ Shadow Board: RBNZ should increase the Official Cash Rate (OCR) by 50bp at the upcoming meeting – by fx_ross RBNZ CentralBanks NZDUSD
The Shadow Board of the Reserve Bank of New Zealand stated that the central bank should increase the Official Cash Rate by 50bp at the upcoming meeting in July.
''Beyond the July meeting, Shadow Board members believed further OCR increases were warranted, citing the very intense inflation pressures in the New Zealand economy.'' ''These concerns meant some Shadow Board members saw limited further tightening as necessary over the coming year. The release of the latest June quarter NZIER Quarterly Survey of Business Opinion highlighted the tricky balancing act faced by the Reserve Bank as inflation pressures intensify against a backdrop of slowing demand in the New Zealand economy.''
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