RBNZ shocks with a 50bp OCR hike

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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