RBNZ Raises OCR by 25bp to 2.50% on July 8; NZD/USD Rises 0.65%

According to RBNZ, the central bank raised its official cash rate (OCR) by 25 basis points to 2.50% on July 8, 2026, in a unanimous decision. Governor Adrianne Brennan stated that inflation may have peaked, noting it reached 3.9% in Q2, lower than the previously expected 4.3% peak.

Following the announcement, the New Zealand dollar strengthened 0.65% to 0.5713 USD. The 2-year bond yield rose 4.95bp to 3.38%, while the 10-year yield climbed 8.75bp to 4.53%, reflecting market expectations for potential further rate increases ahead.