RBNZ Governor signals earlier and steeper rate hikes
Governor Anna Breman says New Zealand rates will rise sooner than expected. The central bank recently held the official cash rate steady at 2.25 percent.
New Zealand central bank Governor Anna Breman signaled that interest rates will likely rise sooner and higher than previous forecasts to curb inflation. The Reserve Bank of New Zealand held the official cash rate at 2.25% this week following a 3-3 committee split. The central bank prioritizes returning inflation to target while managing economic pressures.
Breman used a casting vote to maintain the current rate after the monetary policy committee divided evenly on the decision. The committee remains focused on returning inflation to its target range while managing domestic economic pressures.
