New Zealand central bank lifts rates 25 bps to 2.75%
New Zealand’s central bank raised the official cash rate by 25 basis points to 2.75% and flagged further tightening as likely, but said it would be gradual and faces significant downside risks to the economy.
By Lucy CraymerNew Zealand's central bank raised its official cash rate by 25 basis points to 2.75% on Wednesday and flagged further tightening was likely, but emphasised this would be gradual and saw significant downside risks to the economy.The move was widely expected, with 27 of 31 economists p…