RBNZ chair Breman cast the deciding vote to hold the OCR by a narrow margin and said a rate hike is a matter of when not if; dovish MPC members cited low core inf, weak wage growth and stable medium‑term inf expectations and flagged demand weakness and tighter financial conditions, while Breman said the OCR is likely to be raised over the next few meetings.

2026-05-27

RBNZ chair Breman cast the deciding vote to hold the OCR by a narrow margin and said a rate hike is a matter of when not if; dovish MPC members cited low core inf, weak wage growth and stable medium‑term inf expectations and flagged demand weakness and tighter financial conditions, while Breman said the OCR is likely to be raised over the next few meetings.