RBNZ cuts by 50bps to 4.75%

RBNZ Governor Adrian Orr (Image: BusinessDesk).

Wed, 09 Oct 2024

The Reserve Bank of New Zealand has cut rates by 50 basis points as widely expected. The official cash rate is now 4.75%.“The committee assesses that annual consumer price inflation is within its 1 to 3% inflation target range and converging on the 2% midpoint,” it said. All economists had expected the decision. The market had priced around an 89% chance of a 50-basis point cut. The committee discussed the respective benefits of a 25-basis point versus a 50-basis point cut, according to the record of meeting.&nb...

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