Reserve Bank defends Official Cash Rate hike says decision reduces need to ‘increase by more later’

PremiumHome / BusinessUpdatedLiam DannBusiness Editor at Large·NZ Herald·2 Sep, 2026 03:06 AM4 mins to read‌Business editor at large Liam Dann and Investigative journalist Michael Morrah discuss the potential options. Video \ Jason DordayThe Reserve Bank has defended its decision to hike the Official Cash Rate, anticipating critics who’ll say it should stay on hold until the economy improves.The Official Cash Rate (OCR) was lifted from 2.5% to 2.75% in a unanimous decision. This is the second hike this year, after AdvertisementAdvertise with NZME.