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club Felene

New Zealand Slashes Key Interest Rate By 50 Bps

by Top News Editor
November 27, 2024
in Forex News
Reading Time: 1 min read

The Reserve Bank of New Zealand reduced its benchmark interest rate by 50 basis points on Wednesday, as inflation moved close to the midpoint of the target range and economic output remains below its potential. The Monetary Policy Committee governed by Adrian Orr decided to reduce the Official Cash Rate to 4.25 percent from 4.75 percent.
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