Official Cash Rate Hike w/ Robert MacCulloch: February 23rd, 2023

Reserve Bank Governor Adrian Orr announced yet another official cash rate hike yesterday, by fifty basis points to four point seven five percent. 

The reserve bank claims they aren’t yet sure what the impacts of Cyclone Gabrielle will be on the wider economy, continuing to predict the OCR will peak at five point five percent. 

The aim to control inflation will likely see borrowers suffer, as discussed by UoA Economics Professor Robert MacCulloch.