Reserve bank cuts OCR

Free audio stream, including stories that are padlocked on our site. Listen on any device, anywhere. Updated twice daily. The audio stream takes several seconds to start on Android devices.

Launch Radio player

Reserve Bank governor Alan Bollard today cut the Official Cash Rate (OCR) to 8 percent from 8.25 percent, the first rate cut in five years.

He cut in spite of annual inflation being 4 percent and expected to hit 5 percent this quarter, citing a rapidly slowing economy.

Economists on average assessed there was a 57 percent chance Dr Bollard was going to move today rather than in September as he indicated last month.


This article is tagged with the following keywords. Find out more about MyNBR Tags

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7680 0.0000 0.00%
AUD 0.9866 0.0000 0.00%
EUR 0.7101 0.0000 0.00%
GBP 0.5130 0.0000 0.00%
HKD 5.9663 0.0000 0.00%
JPY 91.3140 0.0000 0.00%

Commods

Commodity Price Change Time
Gold Index 1202.7 4.900 2015-04-17T00:
Oil Brent 63.5 -0.530 2015-04-17T00:
Oil Nymex 55.7 -2.400 2015-04-17T00:
Silver Index 16.2 -0.050 2015-04-17T00:

Indices

Symbol Open High Last %
NZX 50 5881.8 5884.7 5881.8 -0.34%
NASDAQ 4966.1 4974.1 5007.8 -1.52%
DAX 11942.4 12019.8 11998.9 -2.58%
DJI 18102.6 18102.6 18105.8 -1.54%
FTSE 7060.4 7093.5 7060.4 -0.93%
HKSE 27808.2 27969.4 27739.7 -0.31%
NI225 19810.4 19815.2 19885.8 -1.17%