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New Zealand: Economy slips into recession after interest rate hikes
Views: 4072
2023-06-15 11:52
The country's central bank has aggressively raised interest rates since October 2021.

New Zealand's economy has fallen into a recession after the country's central bank aggressively raised interest rates to a 14-year high.

Its gross domestic product (GDP) fell by 0.1% in the first three months of the year, official figures show.

That followed a 0.7% contraction in the previous...