According to CoinMeta, the Reserve Bank of New Zealand (RBNZ) unanimously decided to raise the official cash rate (OCR) by 25 basis points to 2.75%. The RBNZ stated that due to the conflict in the Middle East, fuel prices have increased, leading to an inflation rate of 4.1% in the June quarter. The core inflation rate, expected wage growth, and inflation expectations are still in line with the target range of 1% to 3% for inflation to fall back by mid-2027. After a weak growth in the June quarter, the New Zealand economy is likely to have begun to recover, but the recovery is still uneven. It is expected that economic recovery will further strengthen and expand. The global economy faces significant risks that may affect commodity prices and export demand. The committee will remain vigilant and take action when necessary to ensure that inflation rates continue to return to the target midpoint of 2% in the medium term.