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RBNZ Boosts OCR Again to Curb High Inflation

Guavy AI Editorial Team
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NZD
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The Reserve Bank of New Zealand (RBNZ) has increased the Official Cash Rate (OCR) by another 25 basis points to 2.75%. This decision is aimed at preventing persistently high inflation.

RBNZ Governor Anna Berman explained that if the OCR had been left unchanged, the central bank may have had to take more aggressive action later on.

Berman emphasized that the bank will assess the impact of the previous two OCR hikes before deciding whether to hike again. She stated that 'nothing's set in stone' regarding further rate increases.

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