Citi says Reserve Bank of New Zealand is done hiking rates
Citi contends the Reserve Bank of New Zealand has finished raising the official cash rate after a 25 basis-point hike to 2.75% on its latest move.
New Zealand's central bank is done raising the official cash rate after hiking by 25 basis points to 2.75% yesterday, contends Citi.
This outlook is based on Citi's neutral rate estimate of 2.5-2.75%, below the Reserve Bank of New Zealand's projection of 3% or higher. "We expect slowing activity in…