RBNZ cuts rates by 50bps, citing weak economic conditions and excess capacity

As widely expected, RBNZ cut its Official Cash Rate by 50bps to 4.75%. In its accompanying statement, the central bank emphasized that this move was deemed “appropriate” to achieve and maintain low, stable inflation while minimizing “unnecessary instability” in output, employment, interest rates, and the exchange rate. RBNZ highlighted that economic activity in New Zealand […]

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