Economic Buzz: RBNZ raises cash rate to 2.75% for second straight hike

The Reserve Bank of New Zealand raised its cash rate by 25 basis points to 2.75%, marking its second consecutive hike as it seeks to contain inflation and gradually withdraw monetary stimulus. Inflation stood at 4.1% in Q2, driven partly by higher fuel prices, while the economy shows signs of recovery despite subdued household spending and weak housing activity.

Powered by Commodity Insights