RBNZ Raises Rates to 2.75% but a Dovish Message Sends the New Zealand Dollar Lower
The Reserve Bank of New Zealand raised its Official Cash Rate by 25 basis points to 2.75% on Sept. 2, citing inflation of 4.1% in the June 2026 quarter. The New Zealand dollar fell after the decision, with NZD/USD down about 0.6% to around 0.586 as markets read the bank’s guidance as pointing to a less aggressive tightening path.