Forex
NZ Cash Rate Hike Divides Economists Ahead of Election
The Reserve Bank of New Zealand (RBNZ) has raised the Official Cash Rate (OCR) by 25 basis points to 2.75%, marking its second consecutive hike.
In a widely anticipated move, the RBNZ's Monetary Policy Committee reached 'clear consensus' on the decision.
The question now is whether the OCR will continue to rise in late October, ahead of New Zealand's general election in early November. Bank economists are divided on this issue, with some expecting another hike and others predicting a pause.