ASB Says New Zealand Rate Peak May Be Slightly Below Market Pricing

According to Jin10, ASB Bank said a September rate hike by the Reserve Bank of New Zealand is a near certainty, with limited room for a hawkish surprise because financial markets have almost fully priced in a 25-basis-point increase. ASB expects at least one more hike before year-end and sees the policy rate peaking at about 3.3%, slightly below current market pricing.