RBNZ increases interest rates to 5.5%

The Reserve Bank of New Zealand increased its Official Cash Rate from 5.25 per cent to 5.5 per cent on Thursday 29 April. RBNZ Governor Alan Bollard commented on the decision "The New Zealand economy continues to perform strongly and this is being supported by further improvements in the global economy".

"However, domestic inflation pressures remain strong and annual CPI inflation looks set to rise over the year ahead, as we projected in our March Monetary Policy Statement. Moving interest rat