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Nov 23, 2022 · Official cash rate highest in 14 years after record 0.75% rise. The official cash rate has risen to 4.25%, the highest it’s been in 14 years. The 0.75 basis point jump is also the largest in the ...
Here at Te Pūtea Matua, we use the OCR or Official Cash Rate to achieve and maintain price stability and support maximum sustainable employment in our economy. Our goal is to keep inflation between 1 and 3% over the medium term. But lately inflation has been far too high. For this reason, we have been increasing the OCR to reduce spending and ...
Oct 5, 2022 · The Reserve Bank of NZ delivered another widely anticipated 0.5% increase in the official cash rate (OCR) today, taking it to 3.5% – the highest level since June 2015 when they lowered it from 3.5% to 3.25%. The latest meeting also marked the one year anniversary of the first OCR increase in this cycle, when it was lifted from the emergency ...
- Kelvin Davidson
Oct 24, 2022 · The RBNZ first increased the OCR by just 25 basis points from 0.25 to 0.50 in October 2021.From there the hikes continued until it hit 3.5 percent just a year later. Further increases are also ...
Feb 22, 2023 · The Monetary Policy Committee today increased the Official Cash Rate (OCR) from 4.25% to 4.75%. The Committee agreed that the OCR still needs to increase, as indicated in the November Statement, to ensure inflation returns to within its target range over the medium term. While there are early signs of price pressure easing, core consumer price ...
Jul 13, 2022 · The Reserve Bank (RBNZ) has hiked the Official Cash Rate (OCR) to 2.5% from 2.0% and says it's "resolute" in its commitment to get inflation down and back into its targeted 1% to 3% range. The 50 point rise was widely expected and follows 'double jump' increases in the OCR in both April and May. The OCR has been pushed up some 225 points now ...
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Nov 23, 2022 · The OCR, which had been steadily dropping since 2015, hit a record low of 0.25 percent in 2020 as the Reserve Bank reacted to uncertainties around the unfolding Covid-19 pandemic, however, it has been rising again since late 2021 as global supply disruptions and domestic labour shortages bite. Essentially, there is currently too much money in ...
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