Business
RBNZ calls ‘time’ on pandemic policy rates – The Australian Financial Review
New Zealand’s central bank projects that its cash rate will start to rise in the second half of 2022, in a more hawkish account of the outlook than the market anticipated….
The Reserve Bank of New Zealand is calling time, said Sharon Zollner, ANZs chief economist for New Zealand. Demand is clearly outstripping supply in parts of the economy, causing inflation pressure, although tourism continues to struggle.
Given downside risks and challenges, the bank still believes that ongoing strong stimulus is necessary, but no longer indefinitely, she added.
The RBNZ released an official cash rate forecast for the first time in more than a year. When COVID-19 struck, the RBNZ…
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