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New Zealand raises benchmark rate
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Dhaka, Bangladesh (BBN) - The Reserve Bank of New Zealand raised its benchmark interest rate for a second straight month.
The central bank increased its official cash rate by a quarter percentage point to three percent on Wednesday as it expected near-term gross domestic product (GDP) growth and accompanying inflationary pressures, according to reports.
The central bank, however, signaled that further increases in the interest rates are unlikely in the immediate future. BBN/SSR/SI/AD-30July10-9:19 pm (BST)
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