By Stephen WrightWELLINGTON, New Zealand--New Zealand's central bank raised its policy interest rate for the second time in two months as it withdraws pandemic stimulus that has driven consumer price inflation to its highest point since 2010. The Reserve Bank of New Zealand on Wednesday raised its cash rate by 25 basis points to 0.75%. Seven of eight forecasters in a Wall Street Journal survey had expected that outcome. The central bank had raised the cash rate to 0.5% from a record low 0.25% in October.

Source: Wall Street Journal November 24, 2021 05:55 UTC