RBNZ cuts to 5.25% and signals more to come

The New Zealand dollar fell. (Image: Getty)

Wed, 14 Aug 2024

The Reserve Bank of New Zealand cut the official cash rate by 25 basis points to 5.25% and signalled plans to keep on cutting.The central bank has essentially brought forward its planned cuts by a year. Banks were quick to respond. ASB Bank and Kiwibank both lowered their home loan rates. The Reserve Bank of NZ’s (RBNZ) forecasts now show the official cash rate (OCR) at 4.92% in the December quarter, implying two more 25-basis-point rate cuts this year. It had previously been at 5.7%. 'Begin to ease'According to the...

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