New Zealand raises official cash rate

The Reserve Bank of New Zealand has raised its official cash rate (OCR) by 25 basis points to 8.25%, while indicating that further rises may not be necessary.

Alan Bollard, the governor of the central bank, said that borrowers in New Zealand were beginning to moderate their borrowings, and if they kept this up and the pressure on resources continues to ease, "we think the four successive OCR increases we have delivered will be sufficient to contain inflation."

Before the latest hike, the centra

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