June 28, 2022

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New Zealand raised interest rates by 0.5 percentage points to 1.5%

New Zealand raised interest rates by 0.5 percentage points to 1.5%

Auckland, the capital of New Zealand, in the file image.
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The Reserve Bank of New Zealand has raised interest rates by 0.5 percent amid inflationary pressures and a volatile global economic environment.

The agency considers it optimal to maintain price stability and maximum stability of jobs. Swelling It said in a statement that the current “target limit is 1% to 3% higher”.

“This is due to general inflationary pressures Recent recovery Collides with world demand Severe supply shortages And this Trade interruption.

The economic downturn caused by Govt-19 has been exacerbated by rising prices Energy and food Because of this Russian invasion of Ukraine“, The report continues.

This is the fourth time the New Zealand regulator has raised fees. Last October, the Reserve Bank kept interest rates at an all-time low of 0.25% since March 2020, announcing an increase of 0.25% for the first time since the outbreak, raising it again in both cases in November and February. 0.25%, Efe reported.

Sea country fears next week Inflation reaches 7%Among the problems associated with the possible increase UnemploymentIt is present 3.2%And recession Home Sale MarketAmong other things, it is collected by the public media Radio New Zealand.

Inflation recorded in 2021 was 5.9%, the highest since 7.99% since June 1990, according to data from the New Zealand Bureau of Statistics NZ.

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