RBNZ rate cut wasn't unanimous for first time in 2 years

Reserve Bank governor Christian Hawkesby. (Image: NZME)

Wed, 28 May 2025

The Reserve Bank of New Zealand did cut the official cash rate and did lower the track, but not everyone on the Monetary Policy Committee thought that was the best move.It cut the official cash rate (OCR) by 25 basis points to 3.25%, and its forward-looking track shows the cash rate reaching a low of 2.9% in December this year. In February, the Reserve Bank of NZ (RBNZ) had forecast rates would reach a low of 3.1% in December this year and remain there over the forecast period.Not unanimous It did, however, discuss keeping the cash r...

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