New Zealand lowers interest rates to six percent

NEW ZEALAND - The Reserve Bank cut interest rates by 0.25 percent on April 18. It follows the release of data showing inflation was moving back below the bank's target of 3 percent.

The move was expected, although some economists had expected a larger cut of 0.5 percent. Governor Don Brash said the rate cut was a response to changes in the economy and in the exchange rate. He said further cuts were unlikely as the New Zealand economy was near full capacity.

Mr Brash said that the decision had

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