New Zealand inflation held near a three-decade high in the fourth quarter, maintaining pressure on the central bank to keep raising interest rates. Annual inflation was 7.2%, unchanged from the third quarter, Statistics New Zealand said Wednesday in Wellington. Economists expected 7.1%. Consumer prices advanced 1.4% from three months earlier, exceeding the 1.3% median estimate. The annual inflation rate is lower than the Reserve Bank’s forecast of 7.5%, but its failure to slow suggests further monetary tightening is required to cool demand. The RBNZ in November projected that the Official Cash Rate would need to rise ... (full story)