New Zealand Central Bank has raised interest rates for the fourth consecutive time this year

Xinhua News Agency, Wellington, August 17 (Reporter Lu Huaiqian Guo Lei) The Central Bank of China announced on the 17th that the benchmark interest rate raised 50 basis points to 3%to curb high inflation. This is the seventh interest rate hike since October 2021, and it is also the fourth consecutive interest rate hikes since April this year.

The New Zealand Central Bank issued a report on the same day that although the recent international oil prices have fallen, global inflation pressure is still high, and the momentum of world economic growth is weak. In New Zealand, the price increase of core consumers is still too high, the labor market continues to tight, and continues to tighten monetary policy to maintain stable prices and promote sustainable employment is still the central bank's policy goals.

According to data from the New Zealand Statistics Bureau, in the second quarter of this year, the New Zealand Consumer Price Index (CPI) rose 7.3%year -on -year, reaching a new high since the second quarter of 1990.

In March 2020, the New Zealand Central Bank lowered the benchmark interest rate to 0.25%. Since then, the interest rate has been maintained at this historical low to cope with the impact of the new crown epidemic. Since the second half of 2021, due to the high inflation rate of New Zealand, the New Zealand Central Bank has raised the benchmark interest rates by 25 basis points three times in a row since October last year. In April, May, and July this year, the New Zealand Central Bank raised 50 basis points three times in a row.

[Editor in charge: Zhang Yongsu]

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