RBNZ’s 25bp cut marks end of easing cycle, say economists
Bank says economic activity picked up after policy fell to lowest point in more than three years
The Reserve Bank of New Zealand (RBNZ) has cut its policy rate by 25 basis points, taking it to its lowest level in more than three years – a move economists said marked the end of the bank’s easing cycle.
A majority of economists polled by Reuters had predicted today’s (November 26) decision, which took the official cash rate (OCR) to 2.25%. The RBNZ’s policy committee voted for the decision five to one, with a majority holding the view that the cut was appropriate as significant spare capacity
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