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fxJul 9, 2026, 7:48 AM

RBNZ Hikes OCR to 2.50%, NZD Holds Above 0.57

The Reserve Bank of New Zealand unanimously raised the Official Cash Rate by 25 bps to 2.50%, breaking from May's split vote. DBS notes NZD/USD remains firm above 0.57 as the central bank signals further tightening.

NZDUSD

The Reserve Bank of New Zealand voted unanimously to lift the Official Cash Rate by 25 basis points to 2.50%, a shift from the split decision in May. DBS Group Research strategist Philip Wee reports that NZD/USD is holding firm above 0.57 following the move.

The central bank's hawkish stance suggests additional tightening ahead, which is providing support for the New Zealand dollar. The unanimous vote underscores the RBNZ's confidence in its tightening path amid ongoing inflationary pressures.

Source: FXStreet Forex News