Novozeland reduces rates for the fourth time in search of an increase in the slowdown economy
On Wednesday, February 2, 2023.
Mark Coote | Bloomberg | Getty Images
The Central Bank of New Zealand on Wednesday reduced the reference rates by 50 base points to 3.75%, which indicated the fourth straight cut, as the alleviation of inflation offers the Central Bank’s room to strengthen the spray economy.
This move was in line with the expectations of economists surveyed by Reuters, and has been denoting the smallest rate of politics since November 2022.
In a statement of monetary policy, the central bank said the inflation remained close to the middle of the target scope of 1%-3%.
New Zealand reported the main rate of an inflation of 2.2% in a quarter that ended December 2024, and the price growth fell for seven of the last eight quarters, according to LSEG data.
The reduction of the rate comes in time when the Earth’s growth decreases annually Five straight districts by September 2024, according to the Government’s data.
AND New Zealand dollar reinforced by 0.4% for trade at 0.568 compared to Greenback.
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