OCR cut by 25bps with cautious optimism about more to come
The RBNZ's Monetary Policy Committee voted on whether to cut by 25bps or 50bps, with a majority of four votes to two in favour of 25bps.
The Reserve Bank has slashed the official cash rate to 3% and strongly hinted at more easing to come.
Most economists had suggested today’s 25 basis point cut, while some retail banks had already shifted interest rates lower.
The Monetary Policy Committee voted on whether to cut the OCR by 25bps or
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