WELLINGTON (Reuters) -- New Zealand's central bank cut its benchmark rate by 50 basis points to 3.75% on Wednesday and flagged further reductions in borrowing costs amid moderating inflation as policymakers sought to revive a struggling economy.
The Reserve Bank of New Zealand governor, Adrian Orr, said the board is forecasting a lower terminal rate than in its November projections, and expects two more 25 basis point rate cuts in April and May subject to economic conditions evolving as expected.
