Intelligence Feed event · Macro · 2026-08-04

    Reserve Bank of New Zealand maintains guidance for further tightening after July OCR hike to 2.50%

    Question

    Reserve Bank of New Zealand maintains guidance for further tightening after July OCR hike to 2.50%

    Direct answer

    Persistent hawkish RBNZ guidance kept markets pricing at least one more 25 bp hike by September, supporting short-end NZ swap rates even as NZD/USD softened on weaker jobs data.

    Original publisher
    Market Ontology
    Evidence through
    2026-08-04
    Published
    2026-10-20
    Revision
    1 · 2026-10-20

    Cite as: Market Ontology, “Reserve Bank of New Zealand maintains guidance for further tightening after July OCR hike to 2.50%”, revision 1, evidence through 2026-08-04. https://marketontology.com/market-events/2026-08-04/reserve-bank-of-new-zealand-maintains-guidance-for-further-tightening-after-july-49e567

    MACRO
    Reserve Bank of New Zealand maintains guidance for further tightening after July OCR hike to 2.50%
    Persistent hawkish RBNZ guidance kept markets pricing at least one more 25 bp hike by September, supporting short-end NZ swap rates even as NZD/USD softened on weaker jobs data.
    NZDUSDNZSWAP2YNZOCR
    Impact
    60
    AUG 4
    SIG
    NZDUSDNZSWAP2YNZOCR
    Reserve Bank of New Zealand maintains guidance for further tightening after July OCR hike to 2.50%
    Persistent hawkish RBNZ guidance kept markets pricing at least one more 25 bp hike by September, supporting short-end NZ swap rates even as NZD/USD softened on weaker jobs data.
    Impact
    Persistent hawkish RBNZ guidance kept markets pricing at least one more 25 bp hike by September, supporting short-end NZ swap rates even as NZD/USD softened on weaker jobs data.
    Affected
    NZDUSDNZSWAP2YNZOCR

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    What happened next

    Price follow-up pending — no stored daily closes for these assets yet.

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    Sources

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