RBNZ set to leave OCR unchanged after 12 consecutive hikes

It will be the first time the central bank has paused since it began raising rates in October 2021. — Reuters

WELLINGTON: The Reserve Bank of New Zealand (RBNZ) is expected to leave interest rates unchanged this week, ending a streak of 12 consecutive hikes as the economy cools and inflation starts to wane.

The RBNZ will keep the official cash rate (OCR) at 5.5% today in Wellington, according to all 18 economists surveyed by Bloomberg.