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National Party leader Christopher Luxon is holding a press conference in response to the official cash rate (OCR) hike earlier on Wednesday.
The OCR has reached 2 percent, an increase of 50 basis points.
Delivering its third monetary policy statement of the year on Wednesday, the Reserve Bank (RBNZ) said the hike was needed to keep price stability and support maximum sustainable employment.
"Consistent with the economic outlook and risks ahead, monetary conditions need to act as a constraint on demand until there is a better match with New Zealand's productive capacity."
