RBNZ hikes by 50 basis points to 3.0% and will continue 'at pace'

RBNZ hikes by 50 basis points to 3.0% and will continue 'at pace'
Adrian Orr (Image: NZME)
Rebecca Howard
New Zealand’s central bank lifted the official cash rate (OCR) by another 50 basis points to 3% and signalled there is more to come.“Core consumer price inflation remains too high and labour resources remain scarce,” the monetary policy committee said. It agreed to continue increasing the OCR “at pace to achieve price stability and to support maximum sustainable employment”.The Reserve Bank of New Zealand (RBNZ) now expects the OCR to peak at 4.1% in June 2023 versus its May view that it would peak at 3.9% in...

More Economy

Fast-track applications have a $448,000 price tag
Economy

Fast-track applications have a $448,000 price tag

Owners of the 149 listed projects can now lodge substantive applications. 

Rebecca Howard 07 Feb 2025
Pros and cons of a corporate tax cut
Economy

Pros and cons of a corporate tax cut

Business groups are keen for a cut; others doubt its impact and feasibility.

Pattrick Smellie 05 Feb 2025
Jobs data keep RBNZ on track to cut by 50bps in Feb
Economy

Jobs data keep RBNZ on track to cut by 50bps in Feb

The RBNZ has already signalled plans to cut by 50bps this month.

Rebecca Howard 05 Feb 2025
Unemployment rate hits 5.1%
Economy

Unemployment rate hits 5.1%

It is the biggest annual employment decline in 15 years.

Staff reporters 05 Feb 2025