Reserve Bank of New Zealand Governor: Interest rate hikes could have been earlier and larger, but rates remain unchanged this time

(1) Reserve Bank of New Zealand Governor Breman stated on Friday that, in response to inflation, interest rate hikes may come earlier and be larger than previously indicated. (2) At Wednesday's meeting, Breman cast the deciding vote in a 3:3 tie, deciding to keep the benchmark interest rate unchanged at 2.25%. (3) Breman said the committee remains committed to ensuring inflation returns to target levels while avoiding unnecessary economic volatility. Overall, the official benchmark interest rate may be raised earlier and by a larger margin than previously signaled.