RBNZ cuts rates for fourth time this year
Central bank resumes easing to counter the effect of lower dairy prices and immigration
The Reserve Bank of New Zealand (RBNZ) cut its benchmark interest rate today (December 10), for the fourth time this year.
The central bank continues to grapple with weaker than expected inflation – a result of falling oil and dairy prices, a strong currency and rising immigration, seen at various points in the year.
The RBNZ lowered the official cash rate (OCR) by 25 basis points to 2.5% in its first reduction since September, when it ended a run of three consecutive rate cuts.
The bank opted
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