Market pricing of a Wednesday RBNZ hike has eased after a sharp mid‑June drop in
oil prices. ANZ chief economist Sharon Zollner said the urgency for a near‑term
move has fallen, but she still expects the RBNZ to raise rates — chiefly to lift
the official cash rate off its cyclical low as a risk‑management step. Zollner
noted the NZD has weakened and monetary conditions have loosened and added it is
the second time in six weeks she has said “a hike is imminent but not today,”
leaving the credibility of that signal unclear.
