NZ's Reserve Bank cuts cash rate by 0.5%

NEW ZEALAND - The Reserve Bank of New Zealand Wednesday 19 September cut its official cash rate by 50 basis points, to 5.25%, from 5.75%.

A rate announcement wasn't scheduled until Oct. 3.

"We are making this unscheduled interest rate cut primarily because of recent tragic events in the United States," Governor Don Brash said in a statement.

Click the link on the right to read the full statement from the Reserve Bank of New Zealand.

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