Official cash rate hiked to 2.5% in first rise in three years | Stuff.co.nz

The Reserve Bank has hiked the Official Cash Rate by 25 basis points to 2.5 per cent. It's the first rise since May 2023 after its Monetary Policy Committee warned at its last meeting that the OCR would "likely need to increase". Finance Minister Nicola Willis is looking on the bright side though, saying it's a sign the economy is strengthening. Adam Hollingworth explains. ----------------------------------------------------------------------------------------------------- Stuff NZ is New Zealand’s essential news source — bringing you live, lively and trustworthy journalism from every corner of Aotearoa. Stay informed with breaking news, in-depth stories, and the latest updates that matter to Kiwis. We upload daily, keeping you connected with the people, places and issues shaping New Zealand today. ----------------------------------------------------------------------------------------------------- Social media channels: TikTok: https://www.tiktok.com/@nzstuff Instagram: https://www.instagram.com/nzstuff