The Reserve Bank has today raised the Official Cash Rate by 25 basis points - taking it to 5.5 per cent.

RBNZ still sees 5.5 per cent as the peak for OCR and anticipates cuts from the third quarter of 2024.

The Kiwi dollar dropped by half a cent against the US dollar following the announcement.

NZ Herald Business Editor-at-Large, Liam Dann, joined Simon Barnett and James Daniels Afternoons for to give his reaction to the announcement.

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