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New Zealand’s central bank has raised its benchmark interest rate to 5.5% but signaled its next move would be a cut, sparking a sell-off in the currency WELLINGTON, New Zealand -- New Zealand's central bank raised its benchmark interest rate again Wednesday to 5.5% but signaled its next move would be a cut, sparking a sell-off in the currency. Wednesday's quarter-point rate rise was the 12th straight hike imposed by the Reserve Bank of New Zealand since October 2021. But for the first time since the tightening cycle began, the bank projected the next move would be a cut, which would likely come later next year. The projection was more dovish than markets had expected and caused the New Zealand dollar to drop by more than 1% to trade at a little below U.S. 62 cents. Like many central banks around the world, the Reserve Bank of New Zealand has been raising rates to try and tame i NFL ation, which in New Zealand has fallen from a recent peak of 7.3% last June to 6.7%. That rem...

Lebanon has received an Interpol notice for the country’s embattled central bank governor who failed to answer summons and show up in Paris earlier in the week for questioning in a graft case, officials said BEIRUT -- Lebanon on Friday received an Interpol notice for the country's embattled central bank governor who failed to show up in Paris earlier in the week for questioning in a key corruption case, officials said. France, Germany, and Luxembourg are investigating the governor , Riad Salameh, and his associates over myriad financial crimes, including illicit enrichment and the laundering of $330 million. A French investigative judge on Tuesday issued an international arrest warrant for Salameh after he did not answer summons for questioning in Paris. However, Lebanon is unlikely to comply with the Interpol notice and arrest and hand over Salameh to French authorities. Under the country's laws, Lebanon does not extradite its own citizens. In 2020, it received two Interpol ...