Sep 21, 2021 • 19M

Dawn chorus: From hawkish to heron-ish

RBNZ Assistant Governor Christian Hawkesby, who a month ago talked about a possible 50 bps hike in the OCR, says 25 bps is now more likely in a much less 'hawkish' speech

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TLDR & TLDL: The outlook for interest rates just got a bit flatter because the Reserve Bank signalled yesterday it is unlikely to start hiking on October 4 with a whacking 50 basis point rise in the Official Cash Rate. It is instead more likely to hike just 25 basis points to 0.5%.

The RBNZ said it plans to take “small considered steps” as it assesses th…

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