ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Economy

New Zealand's central bank stuns markets with 50-basis-point rate cut

The surprise move by the Reserve Bank of New Zealand sent the local currency tumbling to 10-month lows on Aug. 7.   © Reuters
| Australia, New Zealand, Pacific Islands

WELLINGTON (Reuters) -- New Zealand's central bank stunned markets on Wednesday by cutting the official cash rate (OCR) by a bigger-than-expected 50 basis points to a record-low 1.00%, and looked set to keep policy lower for longer in the face of growing economic risks.

Read Next

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more

By continuing to browse this website, you accept cookies which are used for several reasons such as personalizing content/ads and analyzing how this website is used. Please review our Cookie Policy to learn how you can update your cookie settings.

Accept & Continue Close