What is the economic outlook following the latest OCR hike?

Published on 26 May 2023

Our Senior Economist Mary Jo Vergara and our Treasurer Belinda Newman run through the RBNZ’s latest policy decision and the reaction in financial markets.


Mary Jo Vergara

Senior Economist

For the 12th straight meeting, the RBNZ hiked the cash rate to 5.5%. With an ‘on hold’ outlook, the RBNZ was much more dovish than expected. Big moves in rates and currency followed.

Economic Video 26 May 23 V13