RBNZ delivers third consecutive rate cut
Central bank signals further easing early next year as inflation returns to target band
The Reserve Bank of New Zealand (RBNZ) has cut its policy rate and signalled a further easing of monetary policy next year, amid moderate inflation and weak economic growth.
The bank’s seven-member monetary policy committee today (November 27) lowered the cash rate by 50 basis points to 4.25%. It was the RBNZ’s third consecutive cut since it began its easing cycle, the bank having reduced rates by 50bp in October and 25bp in August.
In a statement, the RBNZ said annual consumer price inflation had
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