RBNZ cuts OCR to 2.5%, softens wording about further cuts; kiwi jumps

Wed, 09 Dec 2015

By Paul McBeth Dec. 10 (BusinessDesk) - Reserve Bank Governor Graeme Wheeler cut the official cash rate a quarter-point, softening his language about the potential for further rate cuts while saying the strength in the kiwi dollar was "unhelpful". The currency jumped after the statement. “Monetary policy needs to be accommodative to help ensure that future average inflation settles near the middle of the target range," Wheeler said in Wellington. "We expect to achieve this at current interest rate settings, although the bank will reduce...

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