NZ central bank cuts rates, signals more to come

Wed, 08 May 2019

By Rebecca Howard May 8 (BusinessDesk) - The Reserve Bank cut the official cash rate by 25 basis points to 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 statement now show a chance for another cut by...

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