RBNZ raised rates as expected on Wednesday and said policy must be gradually returned to neutral, while adding further hikes are possible but timing is highly uncertain. Capital Economics economist Abhijit Surya says the bank's caution aligns with his view that the official cash rate (OCR) will be raised roughly every other meeting, peaking at 3.25% by end-2027.

2026-07-08

RBNZ raised rates as expected on Wednesday and said policy must be gradually returned to neutral, while adding further hikes are possible but timing is highly uncertain. Capital Economics economist Abhijit Surya says the bank's caution aligns with his view that the official cash rate (OCR) will be raised roughly every other meeting, peaking at 3.25% by end-2027.