RBNZ puts the pedal to the metal

The official cash rate is now at 1.5%. (Image: Supplied)

Wed, 13 Apr 2022

The Reserve Bank of New Zealand lifted the official cash rate (OCR) by 50 basis points to 1.5%, stating it was better to move higher now rather than later. “Inflation is above target and employment is above its maximum sustainable level. As such, the committee confirmed further increases in the OCR are needed in order to meet their mandate,” it said.The Reserve Bank of NZ (RBNZ) is mandated with keeping inflation at 1% to 3%. Annual inflation was 5.9% in the December quarter and the RBNZ expects it to peak around 7% in the firs...

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