RBNZ Set to Hike Interest Rate to 2.75% Amid Hawkish Stance

The Reserve Bank of New Zealand (RBNZ) is set to raise its key interest rate by another 25 basis points, taking it to 2.75% on Wednesday.

This decision comes after a hawkish hike in July, when the RBNZ said further reduction in monetary stimulus was likely to return inflation to the 2% target mid-point.

The central bank's updated projections will be closely scrutinized for any signals on the scope and timing of further rate increases.