Economic Weekly: Uptight – but not tightening

  • The RBNZ’s Monetary Policy Statement last week did not reveal the anticipated serenity of a duck gliding over an admittedly slightly choppy pond, or the composure of the band on the deck of the Titanic
  • The added anxiety over the persistence of domestically-generated inflation pressures was greater than we had anticipated: the RBNZ made it clear that the moment for cutting interest rates is more distant than it previously judged
  • The RBNZ is also worried that inflation expectations could get boosted by some of the high-profile price increases that are occurring, such as council rates going up at an unheard-of pace and the sharp lifts in insurance premiums

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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.