The Reserve Bank of New Zealand surprised with a 50bp hike to the cash rate target

Time and again we have heard from central bankers around the world that inflation is holding higher for longer than they thought it would. The RBNZ is doing what it can to address that. Its hard on borrowers in New Zealand. The RBNZ not backing down though.

NZD/USD was marked up:

nzdusd rbnz 50bp cash rate hike