New Zealand’s “insurance cut” to be reversed in September

The Reserve Bank of New Zealand (RBNZ) has signalled that its policy rate will soon be raised from a post-earthquake emergency level, provided its worst fears for the global economy do not materialise. We now expect the RBNZ’s cash rate to be hiked by 50bp to 3.0% at the next meeting in September, which would be a little sooner than our previous forecast of a move up in October.

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