Reserve Bank of New Zealand
As I said yesterday, again, the RBNZ is hiking rates into a recession.
Statement from the RBNZ now confirming this if there is any doubt:
- Actual and expected inflation is too high and needs to be reduced.
- We expect spending to slow and unemployment levels to increase as more people join the workforce over the coming year.
- Expect spending to slow and unemployment levels to increase as more people join the workforce over the coming year
- It is anticipated that the level of employment will remain high.
- Even with the expected slowdown in the period ahead, it is anticipated that the level of employment will remain high
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The path of the RBNZ rate hikes, so far (pic is from November 23, the last time the Bank met - the next meeting is late February 2023)
