NAB – The Morning Call · Will RBNZ still hike rates today, even in a lockdown?
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Will RBNZ still hike rates today, even in a lockdown?

Wednesday 18th August 2021

With New Zealand in lockdown will the RBNZ still push ahead with its expected rate rise today? NAB’s Rodrigo Catril says central banks take a mid-term view, and the inflation and housing pressures remain, so it’s likely they will stick with the plan, but by no means certain. US markets took a confidence hit as retail sales and the NAHB housing index both came in much lower than expected. There was further evidence of rising costs, which were also reflected in the UK’s employment numbers yesterday. Today UK inflation data is out, plus Australia’s wage price index, and the FOMC minutes. And that RBNZ decision.

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