New Zealand Raises Interest Rates Amid Inflation Crisis
New Zealand’s Central Bank has raised interest rates by 0.5 of a percentage point to 2 percent. This was announced in a statement issued by the Reserve Bank of New Zealand, RBNZ, on Wednesday. According to the statement, the New Zealand dollar hit a three-week high of $0.65. It added that the increase took the cash rate to its highest since November 2016.
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