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Monetary policy review

Split decision keeps OCR at 2.25% for now

27 May 2026
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Gareth Kiernan

Our take on the latest Monetary policy review (Wed 27 May 2026)

Official cash rate
Casting vote made by Governor
RBNZ forecast OCR to reach 3%
2.25%
Unchanged
With a 3-3 vote split among Committee members
By end of 2026

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