New Zealand Central Bank Raises Cash Rate to Counter Inflation

May 25, 2022 - In the latest move to counter the rising inflation, New Zealand’s central bank decided to raise official benchmark rate by 50 basis points to 2.0% on May 25th.

“A larger and earlier increase in the official cash rate reduces the risk of inflation becoming persistent, while also providing more policy flexibility ahead in light of the highly uncertain global economic environment,” the Reserve Bank of New Zealand said in a statement.

- APMR News