RBNZ Board Member Gai says supply shocks such as the Hormuz situation have raised the neutral rate
The RBNZ's board member comment on supply shocks raising the neutral rate suggests a hawkish shift in the bank's outlook.
The new Strait of Hormuz initiative will not necessarily include US Navy ships escorting commercial ships, according to two US officials cited by Axios' Ravid; US Navy ships will be "in the vicinity"
[MARKET UPDATE] Bitcoin briefly tops USD 80,000 for the first time since late January
RBNZ Board Member Gai says supply shocks such as the Hormuz situation have raised the neutral rate
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This could imply tighter monetary policy ahead, as they may need to adjust rates to manage inflationary pressures stemming from such shocks. It’s worth monitoring how this influences NZD and fixed income markets, as expectations may shift accordingly.
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