RBNZ lifts official cash rate a quarter point to 2.75 percent
The Reserve Bank of New Zealand raised the official cash rate by 25 basis points to 2.75% on September 2. The committee said gradually removing stimulus reduces the risk of needing larger rate hikes later.
Why it mattersThe rate increase aims to sustainably return inflation to the 2 percent target midpoint while avoiding unnecessary instability in output, employment, interest rates, and the exchange rate.
Likely78%▲ from 38% a week ago
How we got here
- The RBNZ Monetary Policy Committee agreed by consensus to raise the OCR by 25 basis points to 2.75%. Nz
- The RBNZ was scheduled to announce its Monetary Policy Review and OCR decision. Nz
- The RBNZ was scheduled to publish its next full Monetary Policy Statement. Financecalendar
All coverage
The coverage
- OCR increased by 25 basis points to 2.75%Nz
- New Zealand central bank chief sees risks to economy, inflationReuters · Sep 22
- New Zealand’s Central Bank Warns Near-Term Inflation May Beat Estimates as Oil SurgesBloomberg · Sep 22
- Live: RBNZ press conferenceNz
- RBNZ's Breman says higher oil prices point to firmer near-term inflationinvestingLive · Sep 22
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