Daily Note: RBNZ delivers 25bp hawkish hike

  • The RBNZ hiked the OCR 25bps in line with the market consensus (to 1.0%), but the statement was more hawkish than generally expected. The NZD and NZ yields were up sharply
  • Markets look to have taken the Ukraine news in their stride, looking to be generally nonplussed by the threat of the potential escalation in sanctions
  • Gains to oil prices look to be running out of puff, but pain lies ahead for NZ motorists

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