The Reserve Bank of New Zealand cuts the interest rate

RBNZ reducing its interest rate by 0.75% to 0.25% (from 1.0%).

A statement from them:

  • Taking action to support lending to the economy
  • NZ’s financial system remains stable
  • Government is planning broad economic incentives
  • The banking system continues to function properly
  • Expects banks to maintain lending

New Zealand dollars may fall.

 Trader Georgi Bozhidarov

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