New Zealand tightens policy as inflation remains above target
RBNZ says currently ‘lacklustre’ growth likely to accelerate after carrying out expected hike
New Zealand’s central bank raised interest rates on September 2, after inflation rose 2.1 percentage points above target and amid signs that the country’s currently modest economic growth would accelerate.
The Reserve Bank of New Zealand (RBNZ) said its monetary policy board had decided unanimously to raise the benchmark official cash rate (OCR) by 25 basis points to 2.75%. It said the decision had been made as inflation had risen to 4.1% in the second quarter owing to higher fuel prices driven
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