ANZ Expects Three More Rate Hikes From the RBNZ in This Cycle

ANZ chief economist Sharon Zollner said central banks around the world are racing to confront inflation pressure, and the Reserve Bank of New Zealand is no exception. According to Sina Finance, ANZ now expects the RBNZ to raise rates in October, February, and March, which would lift the official cash rate to a peak of 3.50%. The forecast adds two rate hikes. Zollner said rising oil prices, a weaker exchange rate, and New Zealand's better starting point are factors behind the outlook.