Goldman Sachs: The information provided by the Chief Economist of the Reserve Bank of New Zealand is clearly biased towards contractionary policies.

Goldman Sachs' chief economist Andrew Boak stated that the latest communication from the Reserve Bank of New Zealand (RBNZ) is clearly leaning towards tightening, especially considering it is coming from one of the more dovish members of its monetary policy committee. RBNZ's chief economist Paul Conway mentioned in a speech that "monetary policy may need to react more decisively to reanchor inflation expectations." Boak continues to expect the RBNZ to further raise the official cash rate by 25 basis points to 2.75% in September, and he indicates that this speech highlights the risks of further rate hikes in the near future.