RBNZ Hikes OCR to 2.50%, Signals Further Tightening
The Reserve Bank of New Zealand raised its Official Cash Rate by 25 basis points to 2.50% and indicated further policy tightening is likely to return inflation to the 2% target.
NZDUSD
The Reserve Bank of New Zealand (RBNZ) delivered a 25-basis-point rate hike, bringing the Official Cash Rate (OCR) to 2.50%. The move is aimed at steering inflation back toward the 2% target.
The committee signaled that additional removal of monetary stimulus remains likely, though future decisions will depend on incoming economic data. BNY's Geoff Yu highlighted the central bank's cautious but hawkish stance in a note to clients.
Source: FXStreet Forex News