The central bank’s move to restrict economic activity aligns with inflationary pressure mitigation.
In its last decision before the country’s election, the Reserve Bank of New Zealand opted to keep its key interest rate steady.
WELLINGTON: New Zealand’s central bank left its key interest rate unchanged Wednesday, in its last decision before the country’s election. The rate of 5.5% is “constraining economic activity and reducing inflationary pressure as required”, the bank said in its policy statement.“Globally, economic growth remains below trend and headline inflation has eased for most of our trading partners,” the bank said.New Zealanders cast their vote on October 14, with opinion polls showing the ruling centre-left Labour Party lagging behind the conservative National Party.
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