Post on the Reserve Bank of New Zealand decision is here:

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

The Bank is looking for even higher rates ahead, this from that post linked above:

  • In September 2022, the RBNZ expects the official cash rate to be 2.68% (previous 1.89%).
  • By June 2023, the RBNZ expects the official cash rate to be 3.88% (previous 2.84%).
  • In September 2023, the RBNZ expects the official cash rate to be 3.95% (previous 3.1%).

That 3.95% is expected to be the peak says the RBNZ. The peak was previously seen at 3.35% by the Bank.

 NZD  /USD has rocketed higher:

nzdusd rbnz 25 May 2022