The KPMG Debt Market update for the first half of 2023 is here. With the aim of keeping you up to date on the latest developments and trends in the New Zealand finance market, our Debt Advisory experts use current market data to discuss prominent market drivers and provide first-hand insights from daily practice.
Overview: The RBNZ increased the Official Cash Rate (OCR) by 25bps to a 14 year high of 5.50% in its May meeting. The increase marked the twelfth consecutive OCR rise since October 2021, with the RBNZ signaling that its tightening monetary policy cycle has achieved the target of reigning in widespread inflation. In its July meeting RBNZ maintained a 5.50% OCR. The OCR is expected to remain stable at this elevated level well into next year.
Read more in our latest release.
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