'Nothing to see here': RBNZ may pause rate hikes

A benign statement is expected from Adrian Orr on Wednesday. (Image: NZME)

Tue, 11 Jul 2023

The Reserve Bank of New Zealand is expected to leave its benchmark official cash rate untouched for the first time in almost two years on Wednesday, at 5.5%.The last time the Reserve Bank of NZ (RBNZ) didn’t raise the official cash rate (OCR) at a formal review point was in August 2021.“Even then, the RBNZ only held fire because the government had the day before put the country into Level 4 lockdown,” said ASB chief economist Nick Tuffley. His views are reflected in the recommendation from the NZ Institute of Economic Res...

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