Taking McCarthy at his word
NAB Morning Call
00:00
The RBN's Warning Shot on the Australian Budget
New Zealand's budget has been a significant factor in helping our BNZ colleagues revise their RBNZ projections up a bit. They're forecasting 1% growth in GDP, helped by tourism and all the work-group building after the storms that they've had. But of course that spending adds to inflation pressures, and higher immigration could make it worse as well. So now looking for the cash rate there to get to 5.75.
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