RBNZ hikes OCR to 3% in inflation battle
Reserve Bank hikes OCR by another 50 basis points, as widely expected.
RBNZ governor Adrian Orr speaks at the monetary policy committee news conference.
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The Reserve Bank has raised the official cash rate by 50 basis points a fourth-consecutive time, as widely expected , in a continued battle with rampant inflation.
In decision released this afternoon, the RBNZ’s monetary policy committee agreed another hike was necessary to take the OCR to 3% –
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