RBNZ Leaves OCR Unchanged at 2.25%

By Sophia Rodrigues

The Reserve Bank of New Zealand left the OCR unchanged at 2.25% in a decision that saw Governor Anna Breman use her casting vote to break the 3:3 tie between internal and external members of the six-member Monetary Policy Committee.

The decision, however, came with a strong signal of preparedness to hike at the next meeting in July, with the RBNZ stating "the OCR  will most likely need to increase sooner and by more than envisaged in the February Monetary Policy Statement."