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The Reserve Bank of New Zealand, the central bank of New Zealand, announced that it has left the main reference rates unchanged at 5.5%, as expected.
The decision was motivated by the fact that the interest rate level is keeping spending and inflation under control.
However, the Reserve Bank of New Zealand has anticipated that interest rates will have to remain at a restrictive level, to ensure that inflation measured by the consumer price index returns to the growth target of between 1% and 3 %.