RBNZ reduces OCR to 5.0 per cent

The Reserve Bank of New Zealand knocked a quarter percent off its main OCR interest rate Thursday. Governor Alan Bollard said on balance a further reduction seems appropriate today, with evidence continuing to suggest slowing economic activity.

Source: RBNZ Press Release

The Reserve Bank today reduced the Official Cash Rate by 25 basis points to 5.0 per cent.

Governor Alan Bollard said "In June we noted that there might be scope for a further modest reduction in the OCR, provided the evidence co