Economic Weekly: Kilimanjaro

  • Last week’s RBNZ Monetary Policy Statement was the only game in town for the local economy.
  • While everyone and their dog expected the Bank to deliver 50bps of OCR hikes, punters watched to see how it would acknowledge the headwinds darkening the growth outlook, whilst still committing to stamping out lofty inflationary pressures
  • Market expectations were ultra-hawkish ahead of the meeting, with another double hike of 50bps priced for July (instead of the regulation 25bps), and an endpoint of 3.75-4% in sight

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Mark Smith

Senior Economist

Mark joined ASB in 2017, with over 20 years of public and private sector experience working as an economist in New Zealand and the UK.

His resume includes lengthy stints at ANZ and the Reserve Bank of New Zealand, and he has also worked at the Bank of England, HM Treasury and the New Zealand Transport Agency. Mark's areas of specialisation include interest rate strategy, macro-economic analysis and urban economics.

Born and bred in the Waikato, Mark studied at Waikato University where he graduated with a Master of Social Sciences, majoring in Economics.

Mark's key strengths are the ability to use his extensive experience, inquisitive nature, analytical ability, creativity and pragmatism to dig a little deeper and to deliver common sense solutions to tackle complex problems.

When not at work Mark likes to travel, keep fit and spend time with his friends and family.