NZ central bank cuts rates by 50bps, flags more easing to revive frail economy

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The Star 2d ago

NZ central bank cuts rates by 50bps, flags more easing to revive frail economy - The Star

Quick Summary:

WELLINGTON: New Zealand's central bank cut its benchmark rate by 50 basis points to 3.75% on Wednesday and policymakers flagged further reductions in borrowing costs amid moderating inflation as they sought to revive a struggling economy.

The RBNZ said it is well placed to maintain price stability over the medium term and respond to future inflationary shocks, but added that global uncertainty over tariff policies pose some risks to the economy.

"Lower interest rates will encourage spending, although elevated global economic uncertainty is expected to weigh on business investment decisions," the RBNZ said.