Interest rates tipped to rise on Thursday

Monday 25 October 2004

The Reserve Bank is widely expected to increase interest rates by another 25 basis points to 6.5 per cent on Thursday as the economy continues to exceed expectations, economists say.

By The Landlord

A rate rise was "in the bag", ASB economist Kate Skinner said.

"The real question is will the Reserve Bank signal that it believes additional tightening of monetary policy is required?

"We believe the answer is yes."

The recent rise of the New Zealand dollar would not have been enough to offset the stronger economic activity and more intense inflation pressures than the Reserve Bank had predicted in September, Ms Skinner said.

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