RBNZ hikes official cash rate to 0.50%

The rate hike was widely expected. (Image: BusinessDesk)

Wed, 06 Oct 2021

The Reserve Bank of New Zealand lifted the official cash rate by 25 basis points to 0.50%, the first move since it slashed rates to mitigate the impact of covid-19, and it signalled more to come. “It is appropriate to continue reducing the level of monetary stimulus so as to maintain low inflation and support maximum sustainable employment,” the monetary policy committee said in a statement.“The committee noted that further removal of monetary policy stimulus is expected over time, with future moves contingent on the medi...

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