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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by Renju Jaya
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