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.


Got a question about this story? Leave it in Comments & Questions below.

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 0.7311 0.0010 0.14%
AUD 0.9327 -0.0018 -0.19%
EUR 0.6662 0.0019 0.29%
GBP 0.4720 0.0002 0.04%
HKD 5.6673 0.0084 0.15%
JPY 88.8110 0.0610 0.07%

Commods

Commodity Price Change Time
Gold Index 1204.0 -0.520 2015-05-22T00:
Oil Brent 65.9 1.310 2015-05-22T00:
Oil Nymex 59.7 -1.040 2015-05-22T00:
Silver Index 17.0 -0.081 2015-05-22T00:

Indices

Symbol Open High Last %
NZX 50 5776.0 5810.2 5776.0 0.33%
NASDAQ 5085.4 5103.8 5090.8 -0.03%
DAX 11881.5 11881.8 11864.6 -0.42%
DJI 18286.9 18286.9 18285.7 -0.29%
FTSE 7013.5 7061.7 7013.5 0.26%
HKSE 27723.7 28041.3 27523.7 1.70%
NI225 20331.9 20417.8 20264.4 0.74%