The Reserve Bank has hiked the OCR up by 50 basis points to 4.75 percent.

That's a total of 450 basis points since October 2021 and the Reserve Bank sees the OCR going up further in the coming months.

NZ Herald Wellington business editor Jenee Tibshraeny says this OCR increase comes with a silver lining for mortgage holders.

Jenee Tibshraeny says banks predicted this increase and would have likely priced this in, meaning mortgages are unlikely to go up off the back of this hike.

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