RBNZ cuts by 25bp in sixth straight rate reduction
New Zealand’s central bank signals steeper easing cycle as tariff uncertainty dents growth outlook
The Reserve Bank of New Zealand (RBNZ) has made its sixth consecutive rate cut, as global tariffs add uncertainty to the country’s economic recovery.
The monetary policy committee said today (May 28) that it had voted 5–1 to reduce its official cash rate by 25 basis points to 3.25%.
“Recent developments in the international economy are expected to reduce global economic growth,” the committee said. “Both tariffs and increased policy uncertainty overseas are expected to moderate New Zealand’s
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