New Zealand’s central bank delivers third straight 50bp hike
Analysts predict RBNZ will start slowing down the pace of rate hikes from October
New Zealand’s central bank today (July 13) raised its benchmark interest rate for the sixth time in a row, in a widely expected move to tame inflation.
The Reserve Bank of New Zealand raised the official cash rate (OCR) by 50 basis points to 2.5%, a level unseen since March 2016. The decision marks the third consecutive time RBNZ delivered a 50bp hike.
“The committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability and support maximum
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