Wheeler hints at more easing as RBNZ cuts again

Graeme Wheeler, RBNZ governor

Graeme Wheeler warned "further easing seems likely" as the Reserve Bank of New Zealand (RBNZ) reduced its official cash rate by 25 basis points to 3% today (July 23) – the second cut in as many months.

Announcing the decision, the governor gave a mixed account of how the economic outlook had developed since the June monetary policy statement, pointing to weaker growth but stronger inflationary pressures.

The RBNZ revised its growth estimate down from 3% to around 2.5% on the back of the "softer"

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