The Unanimous Surprise: Inside the 2.5% OCR Hike and the Neutral Rate Chase

The Unanimous Surprise: Inside the 2.5% OCR Hike and the Neutral Rate Chase

July 8, 2026 · 18 min · Season 7 · Episode 30

About this episode

Nick Goodall and Kelvin Davidson discuss the unexpected hike in the Official Cash Rate by the Reserve Bank of New Zealand.

Send us a question/idea/opinion direct via text message! The Reserve Bank has delivered an unexpected baseline shift. This week on a special reactionary episode of the New Zealand Property Market Podcast, Head of Research Nick Goodall and Chief Economist Kelvin Davidson dissect the RBNZ’s unanimous decision to hike the Official Cash Rate (OCR) from 2.25% to 2.5%. Despite a fracturing market consensus on Monday, the Monetary Policy Committee voted with total consensus to remove some economic a...

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Host: Nick Goodall

Guest: Kelvin Davidson

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Organizations: Reserve Bank, Monetary Policy Committee

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