Westpac are forecasting a 75bp Reserve Bank of New Zealand rate hike on November 23

Westpac revising thier call for the Reserve Bank of New Zealand at the November 23 meeting.

• expect +75bp rate hike
• sees the RBNZ peak rate at 5% (prior 4.75%)

Follows the skyrocketing CPI data today:

• NZ Q3 CPI 2.2% q/q (expected 1.6%)

Earlier:

• Forecasts for RBNZ rate hikes are being ramped higher after surging inflation report (ANZ, ASB, Kiwibank)
• BNZ are now forecasting a 75bp Reserve Bank of New Zealand rate hike on November 23