RBNZ chief: rates still supportive after hike cycle
RBNZ Governor Breman says rate path unchanged from May, and policy remains supportive despite recent hike.
RBNZ Governor Breman says rate path unchanged from May, and policy remains supportive despite recent hike.
The RBNZ raised its cash rate by 25bp to 2.75%, as widely expected.
RBNZ rate hike widely expected; Australian Q2 GDP data due with focus on trade and inventories.
Westpac expects a consensus 25bp RBNZ hike to 2.75% on 2 September, with a data-dependent stance on further moves.
Eurozone CPI data, RBNZ and BoC policy decisions, and US employment figures are the key events for the week of August 31-September 4.
New Zealand business confidence fell to 53.7 in August from 56.1, according to the ANZ survey.
ASB expects RBNZ to hike 25bp on Wednesday and signal at least one more hike, with OCR peak near 3.3%.
NZIER's Shadow Board reports a majority recommending a 25bp OCR hike to 2.75% on Wednesday, but several members prefer holding at 2.50%.
Consumer confidence in New Zealand eased 1 point to 98.0 in August, with inflation expectations steady at 4.7%, ahead of the RBNZ's September 2 policy decision.