RBNZ Press Conference with Governor Orr coming up at 0300 GMT - live link

The decision to raise the cash rate by 50bp was widely expected.

• Reserve Bank of New Zealand cash rate hike of 50bps, as expected

But, the RBNZ surprised with its outlook for higher rates. The terminal rate is now expected by the Bank at 3.95% while the market had expected it at 3.5%.

NZD/USD had jumped

• NZD/USD surges after the RBNZ raises rates and outlook for rates higher

• NZ cash rate 2%, going to nearly 4%. AUD cash rate 0.35%. Say goodbye to AUD/NZD

And, there is more info to come, Governor Orr speaking at the top of the hour,

• The Reserve Bank broadcasts a live-stream of the Monetary Policy Statement