RBNZ shocks with a 50bp OCR hike
Governor Adrian Orr delivers greater than expected rise, with fears of an 'overcooked' economic slowdown.
Illustration: Michael Hickmott.
Jonathan Mitchell
Wed, 05 Apr 2023
The Reserve Bank has hiked the official cash rate by more than expected, blaming “high” and “persistent” inflation pressures.
It decided to increase the OCR by 50 basis points to 5.25%, with most economists expecting a 25bp hike this week, after the December quarter’s GDP contraction of
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Jonathan Mitchell
Wed, 05 Apr 2023
Contact the Writer: jmitchell@nbr.co.nz
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