WELLINGTON: New Zealand’s central bank has cut its benchmark rate, as widely expected, signalling a greater readiness to lower borrowing costs further as the economy faces headwinds from weak demand and trade barriers.
The Reserve Bank of New Zealand (RBNZ) is the first in the region to conduct a policy review since the United States imposed sweeping import tariffs last week, causing global markets to spiral as policymakers grapple with heightened recession risks.
