RBNZ's Wheeler hints at more than one rate cut ahead

Thu, 10 Mar 2016

By Paul McBeth March 10 (BusinessDesk) - More than one more interest rate cut may be justified in the months ahead, although further cuts to the record-low 2.25 percent official cash rate will depend on how the economic data shapes up, Reserve Bank governor Graeme Wheeler says. Wheeler cut the benchmark rate a quarter point today and indicated more reductions were on the cards in the forecast track for the 90-day bank bill rate, seen as a proxy for the OCR. Speaking to Parliament's finance and expenditure committee, he said the projectio...

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