RBNZ cuts number of interest rate decisions
Central bank establishes ‘clear rule' for monetary policy announcements
New Zealand's central bank is cutting the number of monetary policy meetings it holds each year, opening the door for a three-month summer break starting next year.
The Reserve Bank of New Zealand (RBNZ) announced changes to its release schedule on August 26, lowering the number of annual interest rate decisions from eight to seven starting mid-2016.
Under the new framework, the RBNZ will leave the official cash rate, its benchmark interest rate, in place for three months between November 2016
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