Latest update: 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. 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.