New Zealand cenbank raises rates, steady tightening planned

WELLINGTON: New Zealand's central bank raised interest rates on Thursday and signaled further rises through early 2017, taking the lead among developed economies in tightening monetary policy as it tries to quell inflation pressures in an outperforming economy.

In a widely expected move, the Reserve Bank of New Zealand lifted its official cash rate by 25 basis points to 2.75 percent, raising rates from a record low 2.5 percent.