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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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.