New Zealand’s central bank, the Reserve Bank (RBNZ), is expected to raise its key interest rate at its next two meetings, according to a Bloomberg survey. Economists predict a quarter-percentage point increase to 3% on December 9. This move is anticipated by all 19 economists surveyed by Bloomberg.
Looking ahead to February, 11 out of 17 analysts foresee another rate hike, bringing the rate to 3.25%. However, six analysts believe the rate will remain unchanged after the December increase. The survey highlights a consensus for a pause in rate adjustments following the February meeting.
The anticipated rate hikes come as the RBNZ continues to navigate economic conditions, with the December and February meetings being key focal points for monetary policy adjustments. The survey results reflect a cautious yet proactive approach by economists regarding the central bank’s next steps.