WELLINGTON: New Zealand's central bank cut the cash rate by 50 basis points to 4.25% on Wednesday, as annual inflation ran near the 2% midpoint of its target range and economic activity remained subdued.
The decision was in line with expectations, with 27 of the 30 economists in a Reuters poll forecasting the Reserve Bank of New Zealand (RBNZ) would cut the cash rate by 50 basis points. This follows a similar move in October.
