{"id":70022,"date":"2022-08-12T02:58:13","date_gmt":"2022-08-11T22:58:13","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=70022"},"modified":"2022-08-12T02:58:15","modified_gmt":"2022-08-11T22:58:15","slug":"rbnz-expected-to-decide-50bps-hike-in-august","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/rbnz-expected-to-decide-50bps-hike-in-august\/08\/12\/market-updates\/","title":{"rendered":"RBNZ expected to decide 50bps hike in August"},"content":{"rendered":"\n<p>The Reserve Bank of New Zealand is expected to stick to its hawkish stance and go on with a fourth straight half-point rate hike, in August, continuing its most aggressive tightening in over two decades in an attempt to control the country\u2019s stubbornly-high inflation,\u201d as per the latest Reuters poll published early Friday morning in Asia.<br><br>Inflation was expected to fall within the target range of 2%-3% in the second half of next year, a separate Reuters poll showed.<br><br><strong>Key Findings<br><\/strong><br>All 23 economists in the Aug. 8-11 Reuters poll forecast rate setters at the RBNZ would hike its official cash rate by another 50 basis points at its Aug. 17 meeting, taking it to 3.00%. It was 1.00% before the COVID-19 pandemic.<br><br>All but one of the 23 economists polled also forecast rates to reach 3.50% or higher by the end of 2022 in what would be the most aggressive policy tightening since the official cash rate was introduced in 1999.<br><br>While the RBNZ has signaled plans to increase the rate to 4.00% by mid-2023, almost matching the U.S. Federal Reserve, few economists in the poll said it would go that far.<br><br>Only five of 23 economists predicted rates would reach 4.00% by end-2022, up from one in the previous poll.<br><br>Twelve of 19 respondents forecast the cash rate to either stay steady at 3.50% or be lower by end-2023. The remaining seven predicted it would climb to 3.75% or higher by then.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank of New Zealand is expected to stick to its hawkish stance and go on with a fourth straight half-point rate hike, in August, continuing its most aggressive tightening in over two decades in an attempt to control the country\u2019s stubbornly-high inflation,\u201d as per the latest Reuters poll published early Friday morning in &hellip;<\/p>\n","protected":false},"author":13,"featured_media":34119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6987,8143,7345,8277],"class_list":["post-70022","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-inflation","tag-interest-rate-hikes","tag-rbnz","tag-reuters"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=70022"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70022\/revisions"}],"predecessor-version":[{"id":70026,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/70022\/revisions\/70026"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/34119"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=70022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=70022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=70022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}