New Zealand: RBNZ expected to keep rates unchanged – UOB

Economist at UOB Group Lee Sue Ann suggests the RBNZ could pause its hiking cycle at its event later in the week.

Key Quotes

There is a risk that the RBNZ may raise its OCR once more by 25bps. But we think the RBNZ will opt to pause at the Oct meeting and will likely wait till the 29 Nov one, with the benefit of having the 2Q23 CPI figures (17 Oct).

There will also be a Monetary Policy Statement accompanying the Nov announcement, which will provide details about the outlook for inflation and interest rates.