The Reserve Bank has indicated today's cash rate increase is the peak of the OCR.
The RBA hiked the official cash rate today by 25 basis points to 5.5 percent and revealed it will remain evaluated for the foreseeable future.Â
NZ Herald Wellington business editor Jenee Tibshraeny says Reserve Bank Governor Adrian Orr is downplaying the impact of Budget 2023 on inflation.
Jenee Tibshraeny explained that Adrian Orr believes fiscal policy is more of a friend than a foe to monetary policy, despite the Government planning to spend more than expected.
LISTEN ABOVE
- Infometrics Principal Economist: The Reserve Bank has taken future OCR increases off the table
- Watch: That's all folks- Reserve Bank lifts OCR but shocks market by saying it's done enough
- ZB's Chief Political Reporter: Will Budget 2023 affect next week's OCR decision?
- Tax expert discusses finer financial points of Budget 2023
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