Wednesday, February 22, 2023 at the Reserve Bank of New Zealand (RBNZ) building in Wellington, New Zealand.
Mark Coott | Bloomberg | Getty Images
New Zealand’s central bank cut its benchmark interest rate by 50 basis points to 3.75 per cent on Wednesday, marking its fourth cut as loose inflation provides central banks with room to enhance their sputtering economy.
The move is consistent with expectations of economists surveyed by Reuters and marks the lowest policy rate since November 2022.
In its monetary policy statement, the central bank said inflation is still close to the midpoint of 1%-3% of its target belt.
New Zealand’s title inflation rate was 2.2% in the quarter ended December 2024, according to LSEG data, with prices rising seven of the past eight quarters.
The reduction rate also occurs when the country’s growth is down year-on-year Five consecutive quarters According to government data, by September 2024.
this New Zealand dollar Trade with Greenback grew 0.4% to 0.568.
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