The Reserve Bank of New Zealand’s Adrian Orr was re-appointed for another 5-years as Governor of the bank. The RBNZ was the first mover among global central banks in the current tightening cycle.
The RBNZ survey of 2-year inflation expectations hit its highest since 1991 today, at 3.62%. The market is leaning toward a 75 basis-point hike to the RBNZ’s target rate at their meeting later this month.
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