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AAP
AAP
Jacob Shteyman

NZ notches first rate hike since 2023 with more to come

New Zealand Ben Mckay Inflation Anna Breman Middle East RBNZ
Mortgage holders in New Zealand are facing their first interest rate hike in more than three years. (Ben McKay/AAP PHOTOS)

Interest rates are on the way up in New Zealand for the first time in more than three years, with the next hike a question of when rather than if.

The Reserve Bank of New Zealand raised the official cash rate to 2.5 per cent from 2.25 per cent, where it had been since November 2025.

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