RBNZ cuts OCR to 2.5%, leaves door open for more

RBNZ Governor Christian Hawkesby. (Image: NZME)

Wed, 08 Oct 2025

The Reserve Bank of New Zealand cut the official cash rate by 50 basis points to 2.5% and stated that it was open to further rate cuts if necessary. “The committee remains open to further reductions in the official cash rate [OCR] as required for inflation to settle sustainably near the 2% target mid-point in the medium term,” the Monetary Policy Committee said in a statement accompanying the decision.The median expectation was for 25bps, according to a Bloomberg poll of 25 economists – 10 of 25 picked 50bps. Market...

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