{"id":1672997,"date":"2022-10-04T22:06:13","date_gmt":"2022-10-05T02:06:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1672997"},"modified":"2022-10-04T22:06:52","modified_gmt":"2022-10-05T02:06:52","slug":"new-zealands-central-bank-raises-rates-by-50bp-considered-75bp","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-zealands-central-bank-raises-rates-by-50bp-considered-75bp\/","title":{"rendered":"New Zealand\u2019s central bank raises rates by 50bp, considered 75bp"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-zealands-central-bank-raises-rates-by-50bp-considered-75bp%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1672997&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Wayne Cole<\/p>\n<p>SYDNEY (Reuters) \u2013     New Zealand\u2019s central bank on Wednesday lifted interest rates to a seven-year high and promised more pain to come as it struggles to cool red-hot inflation in an over-stretched economy.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>The Reserve Bank of New Zealand\u2019s (RBNZ) policy committee raised its official cash rate by 50 basis points to 3.5%, the fifth such outsized move and the eighth hike in 12 months.<\/p>\n<p>Indeed, the committee even debated whether to hike by 75 basis points given heightened price pressures in the economy, but decided on a half-point move.<\/p>\n<p>\u201cThe Committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability and contribute to maximum sustainable employment,\u201d said RBNZ Governor Adrian Orr in a statement.<\/p>\n<p>\u201cCore consumer price inflation is too high and labour resources are scarce.\u201d<\/p>\n<p>The hawkish commentary contrasted with a dovish turn by the Reserve Bank of Australia which downshifted to a quarter-point hike at its policy meeting on Tuesday.<\/p>\n<p>Investors reacted by pushing the kiwi dollar up 0.7% to $0.5770, while two-year swap rates rose 6 basis points to 4.51%. Rates had fallen 25 basis points on Tuesday in the largest daily dive since 2001.<\/p>\n<p>Markets were pricing in a better than 60% chance the RBNZ would hike by another 50 basis points at its next meeting in November, and have rates peaking at 4.5% by May.<\/p>\n<p> (Reporting by Wayne Cole; Editing by Edmund Klamann)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/new-zealands-central-bank\/attachment\/file-photo-two-people-walk-towards-the-entrance-of-the\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9401D-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9401D-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Wayne Cole SYDNEY (Reuters) \u2013 New Zealand\u2019s central bank on Wednesday lifted interest rates to a seven-year high and promised more pain to come as it struggles to cool<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1672997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1672997","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1672997"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1672997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1672997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1672997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1672997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}