New Zealand's central bank hikes rates by 25 bps to 0.75%, meets forecast
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[WELLINGTON] The Reserve Bank of New Zealand (RBNZ) raised interest rates by 25 basis points to 0.75 per cent on Wednesday, continuing its tightening cycle as it looks to get on top of rising inflation and a fired up housing market.
All but two economists polled by Reuters expected the RBNZ to increase the cash rate to 0.75 per cent.
The New Zealand dollar briefly touched a six-week low of US$0.6915 after the announcement, but recovered soon after.
REUTERS
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