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WELLINGTON: New Zealand's central bank made no change to the nation's key 2.5 percent interest rate Thursday, ending a year of aggressive interest rate cutting to combat the global credit crunch and a domestic recession.
Rising house and construction prices helped drive inflation up by a higher-than-expected 0.7 percent in the three months ended Dec. 31, official figures showed Tuesday.
The ringgit will further strengthen against the US dollar well into next year as it catches up with regional currencies which have appreciated even faster against the greenback in recent months, said the Malaysian Institute of Economic Research (Mier).
The US Federal Reserve's (Fed) move to cut its funds target rate by 50 basis points marks an interest rate easing cycle for the US economy but that is not necessarily so for other global economies.