New Zealand central bank raised its key interest rate by 50 basis points for the fifth straight meeting and signaled more tightening going forward.
The Monetary Policy Committee of the Reserve Bank of New Zealand on Wednesday decided to lift the Official Cash Rate to 3.50 percent from 3.00 percent.
The bank has tightened its monetary policy by 325 basis points over the last eight consecutive meetings. A similar higher rate was last seen in 2015.
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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.