WELLINGTON, Feb 22 (Reuters) - New Zealand's central
bank raised interest rates by 50 basis points to a more than
14-year high of 4.75% on Wednesday, and said it expects to keep
tightening further to ensure inflation returns to within its
target range over the medium term.
Twenty of 25 economists in a Reuters poll forecast the
Reserve Bank of New Zealand (RBNZ) would move by 50 basis
points, the tenth straight hike since it began tightening in
October 2021.
It continues to expect the cash rate to peak at 5.5% in
2023, according to the monetary policy statement (MPS).
(Reporting by Lucy Craymer
Editing by Shri Navaratnam)
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