The New Zealand central bank accelerates monetary tightening with a rate hike

WELLINGTON, New Zealand – New Zealand’s central bank hiked interest rates by 50 basis points, accelerating the unwinding of pandemic-era monetary stimulus after inflation soared to multi-decade highs.

It was the fourth consecutive rate hike by the Reserve Bank of New Zealand after hikes of 25 basis points each at its October, November and February meetings. Wednesday’s hike lifted the policy rate from 1.0% to 1.5%.

“To move…

https://www.marketwatch.com/story/rbnz-accelerates-monetary-tightening-with-50-bps-rate-increase-271649816158?rss=1&siteid=rss The New Zealand central bank accelerates monetary tightening with a rate hike

Brian Lowry

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