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MNI BRIEF: RBNZ Hikes 50bp, Continues To Tighten "At Pace"

MNI (PERTH)
MNI (Perth)

The Reserve Bank of New Zealand considered a 50bp and 75bp hike as it acknowledged the inflationary threat from a weaker NZ dollar.

The Reserve Bank of New Zealand raised interest rates by 50bp to 3.5% and signalled it would continue to tighten policy "at pace" as it revealed a 75bp hike had been discussed.

It was the eighth consecutive hike by the RBNZ since Oct 2021, delivering a cumulative 325bp of tightening and lifting the Official Cash Rate (OCR) to its highest level since early 2015. (See MNI STATE OF PLAY: RBNZ To Hike 50bps, Still Has Work To Do)

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The Reserve Bank of New Zealand raised interest rates by 50bp to 3.5% and signalled it would continue to tighten policy "at pace" as it revealed a 75bp hike had been discussed.

It was the eighth consecutive hike by the RBNZ since Oct 2021, delivering a cumulative 325bp of tightening and lifting the Official Cash Rate (OCR) to its highest level since early 2015. (See MNI STATE OF PLAY: RBNZ To Hike 50bps, Still Has Work To Do)

Keep reading...Show less