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'Nothing to see here': RBNZ may pause rate hikes

'Nothing to see here': RBNZ may pause rate hikes
A benign statement is expected from Adrian Orr on Wednesday. (Image: NZME)
Pattrick Smellie
Pattrick Smellie
Tue, 11 Jul 2023
The Reserve Bank of New Zealand is expected to leave its benchmark official cash rate untouched for the first time in almost two years on Wednesday, at 5.5%.The last time the Reserve Bank of NZ (RBNZ) didn’t raise the official cash rate (OCR) at a formal review point was in August 2021.“Even then, the RBNZ only held fire because the government had the day before put the country into Level 4 lockdown,” said ASB chief economist Nick Tuffley. His views are reflected in the recommendation from the NZ Institute of Economic Res...
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