New Zealand makes rate cut in response to tariffs
RBNZ eases policy by 25bp and points to trade war’s downside risks to growth
New Zealand’s central bank today (April 9) lowered its benchmark interest rate, thus making it the first monetary authority in the Asia-Pacific region to adjust policy in response to US tariffs.
In the first decision under new interim governor Christian Hawkesby, the Reserve Bank of New Zealand (RBNZ) cut its official cash rate by 25 basis points to 3.5%.
“The recently announced increases in global trade barriers weaken the outlook for global economic activity,” the bank said. “On balance, these
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