Kiwi Attacked By Hawks
Central bankers are getting increasingly hawkish.
Some higher inflation for the first time in a decade and it's blind panic, time to withdraw support immediately, any delay could be catastrophic!
Let's start in New Zealand.
After the RBNZ cut their QE program earlier this week, the NZ CPI came in 🔥 at 1.3% QoQ (way above the 0.6% the RBNZ had forecast) and at 3.3% YoY.
Inflation is running at the highest pace in a decade.
Markets are pricing the cash rate above