Markets

UPDATE: NZ central bank cuts rates, signals more to come

Rebecca Howard
Wed, 08 May 2019

(Adds detail throughout) By Rebecca Howard May 8 (BusinessDesk) - The Reserve Bank cut the official cash rate by 25 basis points to a record low of 1.5 percent and signaled more cuts to come. The New Zealand dollar fell.  "The Monetary Policy Committee decided a lower OCR is necessary to support the outlook for employment and inflation consistent with its policy remit," the newly minted committee - which includes three external members - said in the statement. Changes to the central bank’s forecasts in the latest monetary policy sta...

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