(RBNZ) OCR: 3.5% – Further reduction in OCR appropriate

The Monetary Policy Committee today agreed to reduce the Official Cash Rate by 25 basis points to 3.5 percent. Annual consumer price inflation remains near the mid-point of the Monetary Policy Committee’s 1 to 3 percent target band. Firms’ inflation expectations and core inflation are consistent with inflation remaining at target over the medium term. […]

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