OCR held at 2.25% after Reserve Bank Governor’s casting vote breaks tie

Wednesday, 27 May 2026

The Reserve Bank keeps the pressure on inflation, signalling that a cooling labour market with higher unemployment and slower wage growth is required to pull expectations back to its 2% medium-term target.

What you need to know

The Reserve Bank has kept the Official Cash Rate steady at 2.25%.
Reserve Bank Governor Anna Breman cast the deciding vote to keep the rate unchanged, with three members of the bank's monetary policy committee voting for a 25 basis point hike.

The Reserve Bank is set to reveal the latest Official Cash Rate.

The OCR has been at 2.25% since November 2025, though Breman forecast future hikes in the near term, with inflation expected to peak at 4.3% this year.

The Reserve Bank has kept the OCR steady at 2.25%. Follow Stuff’s live updates.