RBNZ Delivers Hawkish Rate Hike to 2.50%, ING Says

The Reserve Bank of New Zealand (RBNZ) raised its official cash rate to 2.50%, as reported by ING strategist Francesco Pesole. The decision came with a more hawkish tone than markets anticipated, with the central bank signaling that additional tightening is on the horizon.

This move supports the New Zealand dollar (NZD), which has gained ground following the announcement. The RBNZ's aggressive stance contrasts with earlier expectations, reinforcing confidence in the currency's near-term outlook.