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New Zealand Lifts Interest Rate By Half-Point as Inflation Fight Heats Up

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WELLINGTON, New Zealand—The Reserve Financial institution of New Zealand raised its benchmark rate of interest by a half proportion level, its fourth consecutive enhance and the biggest in additional than 20 years, mirroring an more and more aggressive method by central banks globally as inflation runs at multidecade highs.

New Zealand’s central financial institution stated on Wednesday it had lifted the money price to 1.5% from 1.0%. That follows quarter-percentage-point will increase at every of its October, November and February conferences. It didn’t maintain conferences in December and January.