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Finance

New Zealand's central bank cuts interest rate to 0.25%

Official rate down by 75 basis points before scheduled meeting

Main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand.   © Reuters

WELLINGTON (Reuters) -- The Reserve Bank of New Zealand (RBNZ) slashed its official cash rate (OCR) by 75 basis points on Monday, in response to growing concerns over the coronavirus outbreak.

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