{"id":50466,"date":"2022-11-23T11:44:40","date_gmt":"2022-11-23T02:44:40","guid":{"rendered":"https:\/\/www.theguardian.com\/world\/2022\/nov\/23\/new-zealand-forecasts-recession-in-2023-as-it-delivers-largest-rate-hike-in-history"},"modified":"2022-11-23T11:44:40","modified_gmt":"2022-11-23T02:44:40","slug":"new-zealand-forecasts-recession-in-2023-as-it-delivers-largest-rate-hike-in-history","status":"publish","type":"post","link":"https:\/\/eastasianews.net\/wp\/?p=50466","title":{"rendered":"New Zealand forecasts recession in 2023 as it delivers largest rate hike in history"},"content":{"rendered":"<p>New Zealand\u2019s reserve bank says spending levels still need to be reduced with  rate rises, in order to tame inflation<\/p>\n<p>New Zealand\u2019s reserve bank has forecast that the country will tip into recession in 2023, and has lifted the official cash rate by an unprecedented 75 basis points, to 4.25%.<\/p>\n<p>The cash rate hike, announced on Wednesday, is the largest in the central bank\u2019s history, and comes as it attempts to rein in New Zealand\u2019s 7.2% inflation rate.<\/p>\n<p> <a href=\"https:\/\/www.theguardian.com\/world\/2022\/nov\/23\/new-zealand-forecasts-recession-in-2023-as-it-delivers-largest-rate-hike-in-history\">Continue reading&#8230;<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Zealand\u2019s reserve bank says spending levels still need to be reduced with  rate rises, in order to tame inflationNew Zealand\u2019s reserve bank has forecast that the country will tip into recession in 2023, and has lifted the official cash rate by an u&#8230;<\/p>\n","protected":false},"author":2034,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sns_share_botton_hide":"","vkExUnit_sns_title":"","_vk_print_noindex":"","sitemap_hide":"","_veu_custom_css":"","veu_display_promotion_alert":"","vkexunit_cta_each_option":"","footnotes":""},"categories":[41,437,2515,56,42],"tags":[],"class_list":["post-50466","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-economics","category-inflation","category-new-zealand","category-world-news"],"aioseo_notices":[],"veu_head_title_object":{"title":"","add_site_title":""},"_links":{"self":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/50466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/users\/2034"}],"replies":[{"embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50466"}],"version-history":[{"count":1,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/50466\/revisions"}],"predecessor-version":[{"id":50467,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=\/wp\/v2\/posts\/50466\/revisions\/50467"}],"wp:attachment":[{"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eastasianews.net\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}