Despite the weak economic activity, New Zealand's central bank lifted its benchmark rate more aggressively than expected on Wednesday, as inflation remains too high and persistent.
The Monetary Policy Committee of the Reserve Bank of New Zealand decided to raise the Official Cash Rate by 50 basis points to 5.25 percent. Markets had expected a quarter point hike.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.