Reserve Bank of New Zealand Makes Aggressive Cash Rate Hike to 5.25 Percent

Reserve Bank Governor Adrian Orr speaks during a press conference at Parliament in Wellington, New Zealand, on March 26, 2018. Hagen Hopkins/Getty Images

The Reserve Bank of New Zealand (RBNZ) has made its 11th consecutive official cash rate (OCR) hike, up another 50 basis points to 5.25 percent.

This was above the market expectations of a 25 basis point hike and ease its pace of tightening.