The official cash rate has been cut by 50 points, providing homeowners with some relief, and retailers with some hope.
New Zealand’s Reserve Bank says its following the trend of central banks worldwide, despite the US Federal Reserve’s recent 0.5 percentage point cut.
The Reserve Bank of New Zealand has made a surprise decision to reduce the official cash rate, and banks are dropping loan rates.
The official cash rate has been cut by 50 points, providing homeowners with some relief, and retailers with some hope.
New Zealand’s Reserve Bank says its following the trend of central banks worldwide, despite the US Federal Reserve’s recent 0.5 percentage point cut.
The Reserve Bank of New Zealand has made a surprise decision to reduce the official cash rate, and banks are dropping loan rates.