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New Zealand Hikes Interest Rate By 50 Bps; Hints More Tightening

New Zealand’s central bank raised its benchmark rate by another 50 basis points and hinted at more to come as policymakers focused on inflation pressures and capacity constraints. The Monetary Policy Committee of the Reserve Bank of New Zealand on Wednesday decided to lift the Official Cash Rate to 3.00 percent from 2.50 percent. The outcome of the meeting came in line with expectations.
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