Paul Conway

Money Moves

Voted for a 25-basis-point hike; part of the 3-member minority

New Zealand's central bank held its official cash rate at 2.75% on a 4-3 vote, defying economists and markets who widely expected a hike. The hold follows two consecutive increases and comes with annual inflation at 3.7% — above the bank's 1 to 3 percent target band.

Updated 2 hours ago