WELLINGTON, New Zealand (AP) — New Zealand on Thursday raised its benchmark interest rate to 3.5 percent but signaled it was pausing its program of rate hikes. Wheeler said inflation remains moderate and that the latest rate hike will help keep future inflation near the 2 percent target. Most developed nations are keeping interest rates at or near record lows as they try to encourage growth following the 2008 global economic downturn.
New Zealand Raises Interest Rate To 3.5 Percent
By NICK PERRY, Associated Press, San Antonio Express-News: World
Wed, 07/23/2014 - 4:00pm
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