RBNZ tightens policy and expects more hikes to come
Central bank says inflation still above target
The Reserve Bank of New Zealand (RBNZ) has tightened policy by 25 basis points and said inflation in the country remains above target.
In a statement today (July 8) the RBNZ said it had increased its benchmark lending rate to 2.5%. “With inflation still above target and economic activity expected to strengthen, some further reduction in monetary stimulus is likely to be required to return inflation to the 2% target mid-point,” it said.
The RBNZ expected inflation to return to this level within the
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