A Reuters survey shows most economists expect the RBNZ to deliver a second
consecutive 25bp hike next Wednesday, lifting the official cash rate to 2.75%.
About 90% of 31 respondents forecast the move. Two‑thirds expect at least
another 25bp tightening next quarter; the median year‑end OCR forecast is 3.00%.
The RBNZ implemented its first rate increase in over three years last month and
signalled further tightening to return inflation to the 1–3% target. Official
data showed inflation rose to 4.1% last quarter, a two‑and‑a‑half‑year high;
economists say inflation likely will not return to the target this year, partly
due to upward pressure on energy prices. HSBC Australia & New Zealand chief
economist Paul Bloxham said the main reason is that inflation is above target.
