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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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.