The Reserve Bank of New Zealand has delivered its biggest ever rate rise as it continues efforts to bring inflation down.
Delivering its ninth consecutive rate rise the Reserve Bank of New Zealand has announced the final cash rate of the year is at 4.25 per cent, up 75 basis points.
“It is the biggest hike since the RBNZ introduced the OCR in 1999, and it takes the benchmark to its highest level since 2008,” said New Zealand Bureau Chief Jessica Maggio.
