New Zealand’s RBNZ expected to hike rates in another uncertain, close-call vote
The post New Zealand’s RBNZ expected to hike rates in another uncertain, close-call vote appeared on BitcoinEthereumNews.com. The Reserve Bank of New Zealand (RBNZ) is widely expected to raise the Official Cash Rate (OCR) by 25 basis points (bps) from 2.25% to 2.50% on Wednesday, snapping a three-consecutive-meeting pause. Economists are deeply divided about how the Kiwi central bank will proceed this time after the last decision to hold the cash rate steady was a very close call, increasing the chances of higher volatility around the decision. The RBNZ interest rate announcement is due at 02:00 GMT, accompanied by the Monetary Policy Review (MPR) and the Minutes of the meeting, followed by Governor Dr. Anna Breman’s press conference at 03:00 GMT. The New Zealand Dollar (NZD) faces a key test this week as the RBNZ looks to hike the OCR against a backdrop of still-elevated inflation concerns, soft domestic economic activity, and sharply lower global Oil prices. What to expect from t