NZ credit card spending for October +1% m/m (prior +0.6%)

Data from New Zealand.

For the y/y credit card spending is +24.8%

• prior +34%

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The Reserve Bank of New Zealand monetary policy meeting is this week:

• RBNZ +50 or +75 cash rate hike this week - the larger one would prop up the kiwi $

• RBNZ Shadow Board majority view is for a +75bp interest rate hike (cash rate to 4.25%)
• RBNZ meet next week - preview - "likely to deliver an outsized 75bps hike to 4.25%"
• Poll shows most analysts expect a +75bp rate hike from the RBNZ next week