Official cash rate hiked to 1.5% by Reserve Bank - 1News

It comes as the bank fights soaring inflation, currently sitting at a 30-year high of 5.9%, with predictions it could go higher next week.

The Reserve Bank has lifted the Official Cash Rate .50 basis points to 1.5%. Various NZ dollar notes (file image) (Source: istock.com) The OCR sat at a record low of .25% for much of the pandemic, … [+393 chars]

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