Forex
RBNZ Hikes Rates by 25 Basis Points Amid Mounting Economic Risks
The Reserve Bank of New Zealand (RBNZ) raised its official cash rate by 25 basis points to 2.75 per cent, in line with market expectations.
Governor Anna Breman emphasized that any future policy decisions will depend on the Committee's judgment of the balance of risks to medium-term inflation.
The RBNZ warned of mounting risks to the economic outlook, citing weaker commodity prices, softer export demand, and an uncertain global economy.
New Zealand's economy is only just beginning to regain momentum after a lackluster growth in the June quarter, according to the central bank's latest projections.