The New Zealand central bank raised its interest rate for the sixth straight time and vowed to continue its tightening mode to bring inflation back to the target.
The Monetary Policy Committee of the Reserve Bank of New Zealand on Wednesday decided to lift the Official Cash Rate to 2.50 percent from 2.00 percent, as widely expected. The latest action has taken the interest rate to its highest level since March 2016.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.