New Zealand has slowed the spread of the Delta variant and eased its lockdown, which stopped the RBNZ from hiking in August. And the RBNZ still seems keen to hike rates given the red-hot economy. We expect the RBNZ to launch a tightening cycle at its upcoming meeting on Wednesday 6th October with a 25bp rate hike. Our forecast is that rates will reach 1.50% by the middle of next year.
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