UPDATE: RBNZ's Wheeler cuts OCR, signals end to easing cycle

Wed, 09 Nov 2016

(Adds detail and economist comment from 9th paragraph) By Paul McBeth Nov. 10 (BusinessDesk) - Reserve Bank governor Graeme Wheeler cut the official cash rate to a new record low to try to stoke inflation in an economy growing ahead of expectations and signalled the end of the easing cycle. The kiwi dollar gained after the statement. Wheeler lowered the OCR to 1.75 percent, as expected, and projected the benchmark rate will stay there over the bank's forecast horizon until the end of 2019. The kiwi jumped to 73.37 US cents from 72.90 c...

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