ANZ Sees RBNZ Staying On Track For Another Hike In September

ANZ Research is predicting that the Reserve Bank of New Zealand (RBNZ) will raise its official cash rate (OCR) by 0.25 percentage points to 2.75% in September.

This decision would be made despite mixed economic signals, including softer first-quarter growth and a smaller output gap.

According to ANZ, inflation may be harder to tame than the RBNZ assumed, which could lead to higher interest rates.

The bank's 2.75% September call leaves room for a short-rate surprise, with traders giving slightly higher odds to the next hike happening in December rather than October.