Madrid (EP). The Monetary Policy Committee of the Reserve Bank of New Zealand has decided to raise the reference interest rate for its operations by 50 basis points for the second consecutive meeting.It will fall to 2%, the highest level in six years.
This is the fifth consecutive increase in the price of money approved by the Committee. The reference interest rate has increased by 175 basis points since last October.
The panel acknowledged that it was “appropriate to continue tightening monetary conditions at the required pace to maintain price stability and support maximum sustainable employment”, underlining its commitment to pushing the CPI back to the target range between 1 and 1. % And 3%.
In this sense, the company argues that a “higher and earlier increase” in the reference rate reduces the risk of persistent inflation, while providing greater flexibility in the future in light of the highly volatile global economic environment.
Thus, The Committee expressed its determination to continue raising the price of money at a rate that would allow inflation to return to the set target range.
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