RBNZ sees 2.6% OCR by end of 2023
Reserve Bank hikes 25 basis points as expected and raises OCR forecast track by 50 basis points; Central bank sees OCR at 2.6% by end of 2023; Wholesale rates fall as some expected 50 point hike today
TLDR: The Reserve Bank has hiked the Official Cash Rate by 25 basis points to 0.75%, as all economists expected, but not as much as the 50 basis points that some in financial markets expected.
The bank also increased its forecast for the OCR track by around 50 basis points, lifting its peak to around 2.6% by the end of 2023 from its August forecast of a…
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