The Reserve Bank of New Zealand raised its Official Cash Rate by **25 basis points to 2.75%**, responding to inflation that reached **4.1%** in the June quarter.
Higher fuel prices have been a major driver, and the RBNZ says further tightening may still be needed as it works to bring inflation back toward 2%.
It’s another reminder that the global rate story isn’t simply “cuts are coming.” Inflation — especially energy-driven inflation — can change the path quickly.
