Last month the official cash rate was lifted from a record low 0.25 per cent.
That 25-basis-point hike was the first for the RBNZ in seven years.
The Monetary Policy Committee noted that "further removal of monetary policy stimulus is expected over time given the medium term outlook for inflation and employment".
Some economists saw an outside chance of a double hike but the news today was largely in line with expectations.
Cameron Bagrie of Bagrie Economics joined Simon Barnett and James Daniels with his analysis.
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