ANZ economist Sharon Zollner expects the RBNZ to prioritize risk management at next week’s policy meeting and raise the official cash rate by 25bps. She says the OCR remains roughly 75bps below the RBNZ’s central estimate of neutral and that, with a supportive economic backdrop, a softer-than-expected NZD and inflation likely to stay above target for some time, a rate hike would be prudent.

2026-07-01

ANZ economist Sharon Zollner expects the RBNZ to prioritize risk management at next week’s policy meeting and raise the official cash rate by 25bps. She says the OCR remains roughly 75bps below the RBNZ’s central estimate of neutral and that, with a supportive economic backdrop, a softer-than-expected NZD and inflation likely to stay above target for some time, a rate hike would be prudent.