New Zealand's central bank lifted its key interest rate by half a percentage point, the biggest increase in over two decades, to head off rising inflation expectations and minimize any unnecessary volatility in the future.
The Monetary Policy Committee of the Reserve Bank of New Zealand raised the Official Cash Rate by 50 basis points to 1.50 percent at its meeting on Wednesday. The bank hiked the rate for a fourth policy session in a row.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.