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2026-05-27 10:15:00
[Reserve Bank of New Zealand Keeps Rates Unchanged at 2.25%, Hinting at at Least Two Rate Hikes This Year] (1) The Reserve Bank of New Zealand (RBNZ) has kept the Official Cash Rate (OCR) unchanged at 2.25% for the third consecutive time, in line with market expectations. The RBNZ has chosen to continue to monitor the impact of the global energy shock on domestic consumption and medium-term inflation. (2) The latest forecasts indicate that the probability of at least two rate hikes (25 basis points each) before the end of the year is rising. The RBNZ statement said that the OCR is likely to need to be raised earlier and more significantly than expected in February. (3) The pace of rate hikes will depend on the relative impact of two forces—persistent wage and pricing behavior and weakening economic activity—on medium-term inflationary pressures. The New Zealand dollar rose against the US dollar after the statement was released.
