Economic Buzz: New Zealand inflation stays high, raising chances of more rate hikes

New Zealand?s inflation rate held steady at 3.1% in the first quarter, instead of slowing down as many expected. This keeps it above the central bank?s target range of 1% to 3%. Prices rose by 0.9% compared to the previous quarter, according to official data. Because inflation is still high, there is a stronger possibility that the Reserve Bank may increase interest rates again this year.

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