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08 October 2021

Interest rates on an upward march

The long-awaited monetary policy tightening cycle has now kicked off in New Zealand as the need for record low interest rates to combat feared effects of Covid-19 has disappeared, and the need to fight rising inflation has soared.

Stairs with white picket fences
27 September 2021

Rising inflation risks

The Reserve Bank delivered some good and bad news for borrowers last week. In the wake of the latest lockdown, interest rates will only rise slowly. The bad news is last time they raised them slowly, they peaked higher than if they had moved quickly.

Potato and money balancing on calculator
10 September 2021

Strong growth is a key factor driving higher interest rates

The bounceback in economic activity in New Zealand since the first nationwide lockdown last year has been so strong that the unemployment rate has fallen back to the 4% level it was at when we entered that March – May lockdown.

Seedlings growing in soil
26 August 2021

Rate rises delayed but with upside risk

Borrowers could reasonably expect higher rates at their peaks, but not necessarily a faster speed of increase. Our central bank has an established long-term record of too often tightening monetary policy too slowly.

"Expect delays" traffic sign