Economy

RBNZ raises rates by 50 basis points to 2.0%

Rebecca Howard
Wed, 25 May 2022

RBNZ raises rates by 50 basis points to 2.0%
(Image: Supplied)
Rebecca Howard
Wed, 25 May 2022
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...

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