What’s at stake:Whether the RBNZ needs to hike the official cash rate again this year because of stubborn inflation pressures.
Background: The central bank left the OCR on hold at 5.5% last week, despite some commentators expecting another hike.
Key players: RBNZ, Adrian Orr, Christian Hawkesby, ANZ, Sharon Zollner, Salt Funds Management, Bevan Graham.
The Reserve Bank remains alert for further inflation shocks and wants to see it back at 2% before progressing with rate cuts.
Last week, the RBNZ reiterated the official cash rate needed to stay in the restrictive zone for a “sustained” period to ensure inflation falls back to the 1-3% target.
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