New Zealand’s central bank raises rates by 25 basis points to 2.50%, matching market expectations for June.
The Reserve Bank of New Zealand increased its Official Cash Rate by 25 basis points to 2.50%, effective immediately. The move aligns with widespread forecasts following the June monetary policy review.
Prior to the decision, the OCR stood at 2.25%, with analysts anticipating a 25-basis-point adjustment. The RBNZ’s latest hike follows a series of tightening measures aimed at curbing inflationary pressures.
Markets showed limited reaction as the decision was fully priced in.