New Zealand central bank cuts cash rate by 25bps
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Paul Conway, chief economist at the RBNZ told the Wall Street Journal in an interview that the economic outlook remains challenging, and while activity will show improvement a year from now, the central bank is not expecting a full-blooded rebound.
ANZ, the Australian bank, said it now expected two further interest rate cuts after the dovish pivot. The New Zealand dollar fell 1.1 per cent against the US dollar to a four-month low.
New Zealand’s central bank cut its policy rate by 25 basis points today (August 20) and said that the country’s economic recovery had stalled.
New Zealand's central bank has cut its policy rate by 25 basis points (bps) to a three-year low of 3%, and flags further reductions in the coming months as policymakers warn of domestic and global headwinds to growth.
New Zealand's central bank governor Adrian Orr said on Tuesday an easing bias on interest rates will remain in place for now and that softer global economic conditions had contributed to the bank ...
New Zealand's central bank raised its benchmark interest rate again Wednesday, May 24, 2023, to 5.5% but signaled its next move would be a cut, sparking a sell-off in the currency.
WELLINGTON, Nov 7 (Reuters) - New Zealand's central bank said on Tuesday it would be making changes to how branches of overseas banks are allowed to operate in the country including restricting ...