October 22, 2021

News Collective

Complete New Zealand News World

New Zealand raises interest rates through EFE for the first time in seven years

New Zealand raises interest rates for the first time in seven years

Sydney (Australia), October 6 (.) Securing the housing market and labor market in the maritime country.

The Reserve Bank of New Zealand has kept interest rates at a minimum of 0.25 percent due to the economic and health crisis caused by the Govt-19 epidemic. City of Auckland.

The bank’s committee decided that “monetary stimulus policy should be reduced to maintain price stability and maximum medium-term employment stability”, as well as to curb rising house prices in New Zealand, which is one of the most serious social problems in the country.

The regulator has forecast that inflation in New Zealand will rise to more than four per cent in the short term, before it falls within the expected range of two per cent in the medium term.

The last rise in interest rates since July 2014 was 3.5 percent.

With this decision, New Zealand follows in the footsteps of South Korea, the first of the largest Asian economies to raise interest rates by 0.25 percentage points to 0.75 percent.

The results of the South Korean monetary system, the first increase in almost three years, have responded to the economic recovery and home loan situation in this Northeast Asian country.

On the other hand, the US Federal Reserve kept interest rates between 0% and 0.25% last month, but indicated that it could withdraw the cash incentive “sooner” by reducing the monthly bond purchase volume.

Legal warning: Fusion Media I would like to remind you that the data on this website is not real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges but by market makers, so prices may be inaccurate and may differ from the actual market price, i.e. prices are indicative and not suitable for trading purposes. Therefore, Fusion Media will not be responsible for any business losses you may incur as a result of using this data.

See also  Australia cleans up slanders against New Zealand

Fusion Media No one associated with Fusion Media will be liable for any loss or damage resulting from relying on information on the Website, including the purchase / sale of data, quotes, charts and signals. Please be fully informed about the risks and costs associated with financial market trading, which is one of the potentially risky investment forms.