New Zealand Joins the list of Central Banks Raising interest rates. The hike was announced this Wednesday for the first time in 7 years. In this way, The interest rate will rise to 0.5%After raising the first increase by 0.25% in seven years, in response to expected inflation, and to alleviate the severe problem of access to housing and Security of the labor market In the country of the sea.
The Reserve Bank of New Zealand has been maintaining its interest rates since March 2020 Minimum 0.25% due to economic crisis And the health created by the Govt-19 epidemic worsened in mid-August with the onset of the delta variant in Auckland.
The bank’s board said, “Monetary policy needs to be re-measured To maintain price stability And maximum sustainability of medium-term employment “, as well as controlling the rise in housing prices in New Zealand, which is one of the most serious social problems in the country.
The Regulatory Commission also predicted in its report Inflation in New Zealand will rise to more than 4% in the short termBefore the band reaches the expected two per cent in the medium term.
The last increase in interest rates since July 2014 was 3.5%. New Zealand continues this conclusion, Footprints of South KoreaIt was the first Asian economy to raise interest rates by 0.75 percentage points to 0.75%.
The results of the South Korean monetary system, the first increase in almost three years, responded to the situation of economic recovery and Home loan This is a Northeast Asian country.
On the other hand, the US Federal Reserve kept interest rates between 0% and 0.25% last month, but pointed out The stimulus may begin to withdraw “sooner” By reducing the monthly bond purchase amount. Brazil, Mexico, Colombia or Chile are also well aware of the change in the cycle in the United States and are looking forward to avoiding an event. Tends to punish the respective economies From an investment and financial perspective.
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