Reserve Bank cuts OCR to 3.75%
Feb 19, 2025
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Economists had been expecting a third consecutive cut as the RBNZ tries to boost the economy.
The Reserve Bank has slashed the OCR by 50 basis points to 3.75 percent.
Economists had expected the central bank to deliver a third consecutive big cut on Wednesday, in a bid to support the weak economy.
Two banks had already announced they would cut their interest rates, ahead of the decision.
Economists have suggest future OCR cuts will be smaller, fewer, and spread out.
More to come...
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