Category: Reserve Bank of New Zealand

New Zealand Cash Rate Raised to 3 Percent as Inflation Continues to Climb

The Reserve Bank of New Zealand (RBNZ) has raised the cash rate by 50 basis points to three percent and warned of risks associated with continued high levels of government spending. After inflation hit a 32-year high of 7.3 percent, the central bank made its fourth consecutive 50 points hike of the year, bringing the…


New Zealand Reserve Bank Concedes Role in Country’s Skyrocketing Inflation

The governor of New Zealand’s central bank admitted to the institution’s role in contributing to the country’s high inflation rate. As the Reserve Bank of New Zealand (RBNZ) undertakes the first ever review of its monetary policy remit, governor Adrian Orr acknowledged a research paper on how the institution’s mistakes after 2019 led to inflation….


New Zealand Inflation Hits 7.3 Percent, Highest in 32 Years

New Zealand’s (NZ) annual inflation accelerated to 7.3 percent in June, reaching a new 32-year high and surpassing market expectations. According to Stats NZ, the increase was led by housing costs, with an 18 percent jump in construction prices and a 4.3 percent increase in rentals for housing. “Supply chain issues, labour costs, and higher…


New Zealand Reserve Bank Raises Cash Rate to 2.5 Percent, ‘Broadly Comfortable’ With Hike Rate

The Reserve Bank of New Zealand (RBNZ) made its sixth consecutive cash rate hike in July, moving the rate up another 50 basis points to 2.5 percent. The move was widely expected by most analysts as the central bank continues to combat spiralling inflation, which was last reported in February at 6.9 percent. The monetary…


New Zealand Increases Official Cash Rate to Rein in Inflation

The New Zealand Reserve Bank has hiked interest rates by half a percentage point to two percent as it battles to contain inflation, which is currently at a 30-year high of 6.9 percent. It is the second consecutive 50 basis points (bp) increase to two percent, with the Reserve Bank of New Zealand (RBNZ) indicating…


New Zealand Central Bank Hikes Interest Rates by Highest in Over Two Decades

The Reserve Bank of New Zealand (RBNZ) has raised its official cash rate (OCR) by 50 basis points to 1.5 percent, its biggest such increase in 22 years amidst concerns about surging inflation. RBNZ’s Monetary Policy Committee decided on April 13 that it was best to tighten monetary conditions at a speed that will support…


Housing Aspirations for New Zealanders in 2022

The COVID-19 pandemic has pushed many New Zealand (NZ) families to think broadly about the space they want to live in, as some feel ready to move out of the city for bigger houses and better lifestyles. A survey of 1,300 Kiwis, conducted by Westpac NZ, found that almost one-in-five people wanted a bigger house….