ANZ economists revise Official Cash Rate outlook to 3.5%
What happened
Economists at the country’s largest bank have revised their view of the Official Cash Rate to a new peak of 3.5%. The Reserve Bank’s Monetary Policy Committee also raised the OCR to 2.75% for the second consecutive time at the start of the month.
From nbr.co.nz
Why it matters
Anna Breman, who serves as the Governor of the Reserve Bank of New Zealand, oversees the central bank's policy decisions. The outlook factors include higher oil prices, a lower exchange rate, and a better starting point for the economy.
Anna Breman serves as the Reserve Bank of New Zealand Governor and committee member, while the bank targets inflation.
From nbr.co.nz
Who's involved
- Anna BremanGovernor of the Reserve Bank of New Zealand
- Reserve Bank of New ZealandCentral bank of New Zealand
- Middle EastGeopolitical region encompassing Egypt and most of Western Asia, including Iran
- bankFinancial institution that accepts deposits
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Reserve Bank of New ZealandSpeculative
The Reserve Bank of New Zealand might face increased costs due to higher oil prices driven by geopolitical risk.
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The entities involved
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Anna Breman
Swedish banker and economist