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New Zealand's central bank has cut its benchmark interest rate by 50 basis points to 4.25%, marking the third consecutive reduction as the economy struggles. Economic activity remains subdued, with GDP contracting for four consecutive quarters, while inflation has eased to 2.2%. The Reserve Bank anticipates further rate cuts in early 2025 to stimulate growth, although employment growth is expected to remain weak until mid-2025.
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ew zealand cuts interest rate to stimulate struggling economy
02:20 27.11.2024
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