The Reserve Bank is expected to raise the Official Cash Rate today - for the eighth straight time.
The OCR effectively sets the bar for interest rates New Zealanders pay on loans.
Many economists predict the Reserve Bank will hike the rate in a bid to tackle inflation - which rose to 7.3% in July, a 32-year high.
On Monday ASB chief economist Nick Tuffley said: "The key messages this time should ... remain similar to August's: that the RBNZ will keep lifting the OCR until it is 'confident there is sufficient restraint' in place, and it is 'resolute' in meeting its remit'," ASB chief economist Nick Tuffley said.
Currently the OCR sits a 3% after being raised by 50 basis points on August 17.
That was the fifth time the OCR was raised this year, having seen previous rises in February, April, May and July. The August raise was the seventh consecutive time the Reserve Bank opted for a rates rise.
Explaining the decision at the time the Reserve Bank said the raise was necessary to, "Maintain price stability and contribute to maximum sustainable employment.
"Core consumer price inflation remains too high and labour resources remain scarce."
The ongoing Covid-19 pandemic and war in Ukraine were also factors in the decision.
SHARE ME