UPDATE 1-NZ central bank raises rates, but set to pause for a while

WELLINGTON, July 24 (Reuters) – New Zealand’s central bank raised interest rates to the highest level in more than 5 years on Thursday but said it would now take a breather as it looked at the impact of its tightening and watched inflation in the economy.

The Reserve Bank of New Zealand lifted its official rate by 25 basis points to 3.50 percent, as expected, the fourth consecutive rise in as many meetings.

Source: www.reuters.com

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