New Zealand’s Reserve Bank Cuts Cash Rate Further

The Reserve Bank has given mortgage payers another round of relief, cutting the Official Cash Rate by 25 basis points to 3.50 percent.

The $10 banknote on display at the Reserve Bank of New Zealand in Wellington, New Zealand, on Sept. 1, 2015. Mark Tantrum/Getty Images

The Reserve Bank of New Zealand (RBNZ) has cut the Official Cash Rate (OCR) by 25 basis points—from 3.75 to 3.50 percent—and economists say further cuts are likely in 2025 as the central bank reacts to new U.S. tariffs.

The RBNZ has already cut the OCR by a total of 175 basis points since August last year.