The Reserve Bank of New Zealand raised its official rate by 25 basis points to 3.0 percent on Thursday, the second time in two months it has hiked interest rates.
“It is important that inflation expectations remain contained. To achieve this it is necessary to raise interest rates towards a level at which they are no longer adding to demand,” RBNZ Governor Graeme Wheeler said in a statement.
Global economic data on Thursday were positive.
In the US, durable goods orders jumped 2.6 percent in March. Excluding transportation, orders rose 2.0 percent, the most since January 2013.
Orders for non-defence capital goods excluding aircraft jumped 2.2 percent after having fallen 1.1 percent in February.
In Germany, the Ifo business climate index rose to 111.2 in April from 110.7 in March.
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