New Zealand Raises Key Interest Rate to Record 8%

Discussion in 'Forex' started by ASusilovic, Jun 6, 2007.

  1. Source : BLOOMBERG

    New Zealand's central bank unexpectedly raised its benchmark interest rate to a record 8 percent, saying housing demand and consumer spending are fanning inflation.

    ``A sustained period of slower growth in domestic activity will be required to alleviate inflation pressures,'' Reserve Bank Governor Alan Bollard said in a statement released in Wellington today. A 60 percent surge in world prices of dairy products the past six months has boosted farmers' incomes and will stoke inflation next year, he said.
  2. Hardly a record should have seen it here in the early mid 80's.

    Best regards,
  3. Somwhere 12, 13, 14 %, or ??
  4. I was pretty young (almost teenager), but I seem to remember getting around 18% on my savings account. My parents had some sort of term-deposit thing that was paying out something in the low 20's.

    I'm certainly not saying it's going back to those times. Just shedding some historical light.

    Kind regards,