Central Bank of New Zealand (RBNZ).

(Reuters)

[Financial Channel/Comprehensive Report] In order to combat lingering inflationary pressures, the Central Bank of New Zealand (RBNZ) announced today (3rd) that it will raise interest rates by 2 yards (50 basis points), which is the fifth consecutive time for New Zealand's central bank The 2-yard rate hike was also the 8th rate hike in the past year.

According to comprehensive media reports, the Central Bank of New Zealand announced that it will raise the official cash rate (OCR) from the original 3% to a seven-year high of 3.5%, which is in line with economists' expectations.

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Given that core consumer price inflation is still too high and human resources are still scarce, the committee agreed that monetary conditions need to continue to be tightened in order to maintain price stability and maximize sustainable employment, the Bank of New Zealand said.

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