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New Zealand slashes rates for a fourth straight time in bid to boost a slowing economy
New Zealand’s central bank on Wednesday slashed benchmark rates by 50 basis points to 3.75%, marking its fourth straight cut, as easing inflation offers the central bank room to boost a sputtering economy. The move was in line with expectations from economists polled by Reuters, and marks the lowest the policy rate since November 2022. In its monetary policy statement, the Reserve Bank of New Zealand said inflation remained near the mid-point of its target band of 1%-3%, prompting it to lower rates. New Zealand reported headline inflation rate of 2.2% in the quarter ended December 2024, with price growth falling ... (full story)
