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Dow Jones Newswires: New Zealand’s central bank raises rate by half-percentage point for third straight meeting

By Stephen Wright

WELLINGTON, New Zealand–New Zealand’s central bank raised its benchmark interest rate by 50 basis points for a third consecutive meeting Wednesday, as it tries to dampen decades-high inflation, and vowed further increases.

The rate decision lifts the cash rate to 2.5% and is the Reserve Bank of New Zealand’s sixth increase…

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