New Zealand continues easing cycle with 50bp cut
Trade concerns take centre stage as RBNZ delivers fourth consecutive reduction
New Zealand’s central bank today (February 19) reduced its policy rate by 50 basis points to 3.75% amid weak activity, falling inflation and looming trade concerns.
In a statement, the Reserve Bank of New Zealand (RBNZ) said economic activity remained “subdued”. The country went into recession last year with two consecutive quarterly GDP contractions of 1.1% in Q2 and 1% in Q3.
Year-on-year headline inflation was 2.2% in the fourth quarter, the same level as in Q3. The RBNZ said it expected
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