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Preview of RBNZ February 2023 Monetary Policy Statement
The Reserve Bank will again use next Wednesday’s Monetary Policy Statement to emphasise the scale of its battle against inflation. We’re expecting a 50 basis point increase in the Official Cash Rate to 4.75%, and market opinion has also swung in that direction over recent weeks. That’s down from the 75 basis point rise that the market was widely expecting, and which the Reserve Bank seemed quite set on delivering, in the wake of the November Monetary Policy Statement. Part of that was no doubt about the RBNZ signalling its determination to get inflation under control. But it was also partly predicated on some ... (full story)