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(Bloomberg) The European Central Bank held interest rates steady for a fifth meeting, while sending its clearest signal yet that cooling inflation will soon allow it to commence cuts.Most Read from BloombergUS Sees Imminent Missile Strike on Israel by Iran, ProxiesUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsVietnam Tycoon Lan Sentenced to Death Over $12 Billion FraudRussia Destroys Largest Power Plant in Ukraine’s Kyiv RegionChinese Cement Maker Halted After 99% Crash in 1
WELLINGTON (Reuters) -New Zealand's central bank held the cash rate steady at 5.5% on Wednesday and trimmed the forecast peak for rates, catching markets by surprise as policymakers said the risks to the inflation outlook have become more balanced. The decision was in line with expectations from 28 economists in a Reuters poll with all but one forecasting the Reserve Bank of New Zealand (RBNZ) would leave the cash rate at a 15-year high for the fourth consecutive meeting. Global central banks, led by the Federal Reserve, have recently pushed back against market expectations for an early start to rate cuts given persistent inflationary pressures.