Wellington - (Saba):
The Reserve Bank of New Zealand cut its key interest rate by 25 basis points to 3.25%, in line with expectations, amid signs of a deeper monetary easing cycle than previously anticipated.
The Reserve Bank of New Zealand was among the first central banks in Europe to end its COVID-19 stimulus measures, having raised interest rates by 525 basis points between October 2021 and September 2023 in an effort to curb accelerating inflation.