WELLINGTON, Oct 5 ― New Zealand's central bank today delivered its eighth consecutive interest rate hike, sending the country's borrowing costs to their highest...
WELLINGTON, Oct 5 ― New Zealand's central bank today delivered its eighth consecutive interest rate hike, sending the country's borrowing costs to their highest level in more than seven years, as it joins a global battle against surging inflation.
The move came as its counterparts in the United States, Europe and elsewhere ramp up rates to curtail decades-high inflation, fuelling concerns they could trigger a prolonged global downturn.
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