The RBNZ will decide on Wednesday whether to raise the official cash rate amid strong labour market data, potentially affecting mortgage interest rates.

The Reserve Bank of New Zealand (RBNZ) will make a significant decision on Wednesday regarding whether to resume lifting the official cash rate (OCR) amid stronger-than-expected labour market data. ANZ has predicted the OCR will be raised from 5.5% to 5.75% this week, with another hike in April. The RBNZ's decision will be closely watched by mortgage holders, as it could impact interest rates. The annual inflation rate in New Zealand is still more than twice the bank's 2% target.

February 25, 2024
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