RBNZ raises rates by 50 basis points to 2.0%

RBNZ raises rates by 50 basis points to 2.0%
(Image: Supplied)
Rebecca Howard
The Reserve Bank of New Zealand lifted the official cash rate (OCR) by 50 basis points to 2.0% and while it hasn’t finished hiking, it does expect to eventually lower interest rates.“A larger and earlier increase in the OCR reduces the risk of inflation becoming persistent, while also providing more policy flexibility ahead in light of the highly uncertain global economic environment,” it said. The move was widely expected by the market. The Reserve Bank of NZ (RBNZ) now expects the OCR to peak at 3.9% in June 2023 v...

More Economy

Little reason to celebrate GDP data
Economy

Little reason to celebrate GDP data

NZ is no longer technically in a recession but quarter-on-quarter growth was only 0.2%.

Kaya Selby 20 Jun 2024
NZ economy grows a tad in March quarter
Economy

NZ economy grows a tad in March quarter

The GDP lifted 0.2% in March quarter. 

Staff reporters 20 Jun 2024
Current account deficit narrows
Economy

Current account deficit narrows

At 6.8% of GDP, the deficit was larger than the Reserve Bank and Treasury predicted.

Murray Jones 19 Jun 2024
Have we screwed the scrum too far in bank regulation?
Economy

Cameron Bagrie: Have we screwed the scrum too far in bank regulation?

The government's banking inquiry is overdue and welcome. 

Cameron Bagrie 19 Jun 2024