RBNZ Keeps OCR 2.25% Amid Oil Inflation

RBNZ left its official cash rate unchanged at 2.25% on 8 April 2026, matching market expectations.
Committee warned surging oil prices from Middle‑East shocks could raise headline inflation to ~4.2% in June quarter, up from 3.1% in December.
NZD/USD rose 1.4% on the day, reflecting optimism over a temporary U.S.–Iran ceasefire despite weaker domestic demand signals.
Bank said decisive OCR hikes would be needed if inflation expectations unanchor, while weak demand may limit second‑round effects.