Economic Weekly: Still a few hikes to go

  • We start this week waiting for the big but not so surprising news: the RBNZ August Monetary Policy Statement
  • Wednesday’s Monetary Policy Statement is expected to go ahead with the anticipated 50bp interest rate hike, taking the Official Cash Rate to 3% this August
  • We expect similar language in this statement as in the last two monetary policy announcements, mainly implying the commitment to hike the Official Cash Rate to bring inflation back to the 1%-3% target band within an acceptable timeframe

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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.