Reserve Bank of New Zealand cuts interest rates as slumping ...

Wellington | New Zealand’s central bank cut interest rates on Wednesday, embarking on an easing cycle much sooner than previously indicated as the economy slumps and inflation slows. The local dollar plunged.

The Reserve Bank’s Monetary Policy Committee lowered the official cash rate by a quarter percentage point to 5.25 per cent. Nine of 23 economists in a Bloomberg survey anticipated the move, while 14 expected no change.

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Bloomberg

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