New Zealand's central bank 'surprises' with hikes, key interest rate to 5.25 per cent

New Zealand’s central bank surprised economists on Wednesday by imposing an aggressive half-point rate rise to bring its benchmark interest rate to 5.25%. It was the Reserve Bank of New Zealand’s 11th straight rate hike as it tries to cool inflation, which is running at 7.2%, far above the bank’s target level of around 2%.
Source: ctv business
New Zealand’s central bank ‘surprises’ with hikes, key interest rate to 5.25 per cent