We have updated our forecast for the Official Cash Rate. As we detailed earlier this week, we now expect that the RBNZ will increase the cash rate by 0.25 ppts at the time of the August Monetary Policy Statement. This is expected to be followed by 0.25 ppt increases at both the October review and at the November Monetary Policy Statement. Following the November policy statement, we expect that the RBNZ will pause to assess how the economy is tracking, with further gradual rate increases beginning again in mid-2022. Underlying our expectations for this sequence of rate hikes are signs of solid momentum in domestic ... (full story)