％New Zealand Government Bond 10Y
NZ-10Y
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RBNZ rate hike signals tighter policy, supporting higher yields.
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NZ central bank rate hike was consensus decision, says Hansen
MacroDigital Finance
Carl Hansen, a member of the Reserve Bank of New Zealand's monetary policy committee, said in an interview with Reuters that the rate hike on the 2nd was a clear consensus decision. He said policymakers agreed that financial conditions remain stimulative and that action was needed to demonstrate the central bank's commitment to returning inflation to target. The RBNZ raised its policy rate on the 2nd, signaled the possibility of further tightening, and warned that risks to the economic outlook had increased. Hansen said he would watch whether higher energy costs from Middle East-related supply shocks lead to persistently higher domestic inflation, and would also keep an eye on household spending, the housing market, and migration trends. He also noted that monetary policy as of May was "quite stimulative," but that the two subsequent rate hikes had brought it "into a more balanced state."
RBNZ rate hike signals tighter policy, supporting higher yields.