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The Reserve Bank of New Zealand is expected to slow the pace of interest rate easing after February, following a third consecutive half-percentage point cut. Assistant Governor Karen Silk indicated that pauses may be integrated into the cycle, as inflation is projected to rise to 2.5% next year, necessitating a mildly restrictive monetary policy to maintain pressure on price-setting.
New Zealand's central bank has cut interest rates by half a percentage point for the second consecutive meeting, lowering the Official Cash Rate to 4.25%. However, the Reserve Bank of New Zealand indicated a slower pace of easing ahead, with inflation expected to rise, projecting an average OCR of 3.83% by mid-next year. The local dollar experienced a surge following the announcement.
New Zealand's central bank is poised to cut interest rates by 50 basis points for the second consecutive meeting, bringing the Official Cash Rate down to 4.25%. This move positions the Reserve Bank as one of the most aggressive rate cutters among its western counterparts, with one analyst predicting a potential 75-point reduction.
New Zealand is facing a significant economic downturn, with households cutting back on discretionary spending and businesses delaying investment plans, according to the Reserve Bank. While there are signs of recovering business confidence as inflation and interest rates decline, the risk of further economic weakening remains substantial.
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