Liam Dann: NZ Herald business editor on the unexpected increase to the OCR
The Reserve Bank hiked up the OCR higher than expected- and it shocked a lot of experts.
The Official Cash Rate went up 50 basis points to 5.25 percent, the highest it's been since the 2008 global financial crisis.
NZ Herald business editor at large Liam Dann says the Reserve Bank delivered exactly what they said they were going to in February.
Liam Dann explains that the Reserve Bank would have done all the necessary net equations, and stuck to their guns in Wednesday's announcement.
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