RBNZ lifts OCR to 2.75%, pushing New Zealand dollar down 1.1%

The New Zealand dollar slipped roughly 1.1% on Wednesday despite a rate hike from the Reserve Bank. By 17:04 NZST it was trading near US$0.5830, down from US$0.5896 recorded just ahead of the announcement. Market moves indicated guidance took precedence over the anticipated rate increase.

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