The Reserve Bank of Australia (RBA) has made a surprise move by lifting interest rates by another 0.25 percent on May 2. The latest round of increases takes the official cash rate to 3.85 percent, the highest level since April 2012. Prior to the announcement, the general market expectation was a pause for May, which…
Reserve Bank of New Zealand Makes Aggressive Cash Rate Hike to 5.25 Percent
April 5, 2023
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Asia & PacificAustraliaBusiness & MarketseconomyInternationalNew Zealand economyofficial cash rateReserve Bank of New ZealandWorld
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The Reserve Bank of New Zealand (RBNZ) has made its 11th consecutive official cash rate (OCR) hike, up another 50 basis points to 5.25 percent. This was above the market expectations of a 25 basis point hike and ease its pace of tightening. The Monetary Policy Committee noted that the recent data, including a fall…
New Zealand Raises Interest Rate to 4.75 Percent, Eating Into Housing Affordability
February 22, 2023
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Asia & PacificAustraliaBusiness & MarketsGlobal Real Estatehousing affordabilityinflationinterest rate hikesofficial cash ratereal estaterecessionReserve Bank of New ZealandWorld
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New Zealand’s central bank has raised the official cash rate (OCR) by another 50 basis points to 4.75 percent after Cyclone Gabrielle destroyed the livelihood of many Kiwis. “It is too early to accurately assess the monetary policy implications of these weather events, given that the scale of destruction and economic disruption are only now…
New Zealand Raises Official Cash Rate by 0.5 Percent to 3.5 Percent, Considered 0.75 Percent Hike
October 5, 2022
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Asia & PacificAustraliaBusiness & Marketsinflationinterest rateInternationalofficial cash rateReserve Bank of New ZealandWorld
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The Reserve Bank of New Zealand (RBNZ) made its fifth consecutive 50 basis point hike, raising the cash rate from to 3.5 percent. The monetary policy committee had considered raising the official cash rate (OCR) by 75 basis points to combat 32-year high inflation of 7.3 percent, before ultimately agreeing that a 50 basis point…
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