{"id":437905,"date":"2026-05-21T06:17:08","date_gmt":"2026-05-21T06:17:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/437905\/"},"modified":"2026-05-21T06:17:08","modified_gmt":"2026-05-21T06:17:08","slug":"westpac-announces-second-lot-of-mortgage-rate-hikes-in-may-ahead-of-key-reserve-bank-decision","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/437905\/","title":{"rendered":"Westpac announces second lot of mortgage rate hikes in May ahead of key Reserve Bank decision"},"content":{"rendered":"

The bank also increased its three-year fixed terms by 6bps to 5.35% (special) and 5.95% (standard).<\/p>\n

The Reserve Bank (RBNZ) is due to make its next Official Cash Rate (OCR) decision on Wednesday, May 27.<\/p>\n

The OCR currently sits at 2.25%, where it has been since November last year.<\/p>\n

Higher-than-expected inflation figures have lifted the odds of the first OCR hike coming in May<\/a>.<\/p>\n

New Zealand\u2019s Consumers Price Index (CPI) increased 3.1% in the 12 months to the March 2026 quarter, according to Stats NZ.<\/p>\n

That\u2019s above the RBNZ\u2019s target band of 1-3%.<\/p>\n

Market pricing now points to a 40% chance of a 25bps rate hike in May, up from a 20% before the CPI\u2019s release.<\/p>\n","protected":false},"excerpt":{"rendered":"The bank also increased its three-year fixed terms by 6bps to 5.35% (special) and 5.95% (standard). The Reserve…\n","protected":false},"author":2,"featured_media":437906,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[3017,694,1643,53669,138,14134,100302,25902,78,4277,4462,7810,16400,3025,111,139,69,1118,44625,19257,7676,10665,8466,1962,1177,17239],"class_list":["post-437905","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-ahead","tag-announces","tag-bank","tag-basis","tag-business","tag-decision","tag-hikes","tag-hiking","tag-in","tag-key","tag-lot","tag-may","tag-mortgage","tag-most","tag-new-zealand","tag-newzealand","tag-nz","tag-of","tag-points","tag-rate","tag-rates","tag-reserve","tag-second","tag-special","tag-standard","tag-westpac"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/437905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=437905"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/437905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/437906"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=437905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=437905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=437905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}