RBNZ lifts official cash rate to 2.5%, despite recession risk

(Photo: Dan Brunskill)

Wed, 13 Jul 2022

The Reserve Bank of New Zealand (RBNZ) has lifted the official cash rate by 50 basis points to 2.5% as widely expected by economists and market participants.In its regular review, the monetary policy committee said it remained appropriate to continue tightening policy “at pace”.The level of global economic activity, combined with supply disruptions from covid and the Russian invasion of Ukraine, is continuing to generate global inflation pressures, it said.However, the committee also noted the pace of global economic growth is slowi...

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