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

Adrian Orr (Image: NZME)

Wed, 17 Aug 2022

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...

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