Coming up from the Reserve Bank of New Zealand on Wednesday 25 May 2022 :
BNZ snippet preview:
- RBNZ is almost certain to raise the OCR by 50bps at the meeting, taking the cash rate to 2%, around where the RBNZ has seen the neutral rate.
- The key market focus is on the RBNZ’s forecast OCR track and particularly the end point for the track. At the February MPS, the RBNZ projected a peak in the OCR of 3.35% and we think it might nudge a little higher, perhaps to around 3.50%, but we’re not expecting a significant upwards shift.