RBNZ delivers rate cut as exchange rate strength persists
Board reaffirmed move in light of Trump victory
The Reserve Bank of New Zealand (RBNZ) cut its policy rate to a new record low today (November 10), as currency strength continues to hold inflation below the target range.
The central bank reduced the official cash rate by 25 basis points to 1.75%. At a press conference, governor Graeme Wheeler cited "significant" surplus capacity in the global economy with low global inflation and high political uncertainty.
In an unusual move, policymakers met in the morning to discuss the impact of the US
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