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RBNZ raises rates by 0.25% to 2.50%, first hike in over 3 years, signaling tighter monetary policy to curb inflation.
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The Reserve Bank of New Zealand unanimously decided at its monetary policy committee meeting on the 8th to raise the policy rate by 0.25% to 2.50%. It indicated that inflation is expected to persist over the medium term and judged that reducing monetary easing is appropriate to curb inflation. This marks the first rate hike in 3 years and 2 months.
RBNZ raises rates by 0.25% to 2.50%, first hike in over 3 years, signaling tighter monetary policy to curb inflation.