RBNZ may raise rates in July after a 3:3 split vote
The RBNZ held the OCR at 2.25% on a 3:3 split vote.
The central bank’s updated OCR track was lifted nearly 50 basis points over the next year.
New Zealand has not recovered from a deep double-dip recession in 2024-25, and hiking into a large output gap with demand already weak risks being too aggressive.