NZIER: Majority view an RBNZ OCR increase of 25 bps, given inflation pressures are still high
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“Shadow Board members recommend a smaller hike in the Official Cash Rate (OCR) in the Reserve Bank’s upcoming April Monetary Policy Review,” said the latest New Zealand Institute of Economic Research (NZIER) report.
“The majority view was an OCR increase of 25 basis points, given inflation pressures are still high in the economy and inflation expectations remain above the Reserve Bank’s 1–3 percent inflation target band,” also mentions the NZIER report.
The news weighs on the NZD/USD prices, together with the sour sentiment, as the Kiwi pair drops to 0.6235, down 0.35% intraday at the latest by the press time.
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