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RBNZ announces rate hike to 1.5%

At the rate meeting on Wednesday, the Reserve Bank of New Zealand announced a half-point rate hike, pushing its official rate to 1.5%, making it the fourth rate hike in its current rate hike cycle. The New Zealand central bank explained that increasing the pace of interest rate hikes is to suppress domestic people's inflation expectations, so as to achieve a lower inflation target. As for the latest price changes of New Zealand dollar interest rate futures, the market estimates that the bank still has a chance to raise interest rates by half a percentage point in May, but the probability is only 74%, which is not too high. It is basically the market consensus that the interest rate will rise to 2.5% by the end of this year, and the probability of raising the interest rate to 2.75% by the end of the year is 80%.
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