RBNZ Eyes Rate Hike in October Amid Strong Economic Growth

The Reserve Bank of New Zealand (RBNZ) may raise interest rates in October as the country's economic growth remains strong, according to recent data.

The RBNZ has been keeping a close eye on inflation and employment numbers, which have been steadily increasing. In June, GDP growth reached 2%, beating expectations, and retail sales rose by 3.5% year-over-year.

While some economists warn that the strong growth may be short-lived due to global economic headwinds, others believe it's a sign of a robust economy that can withstand higher interest rates.