New Zealand cuts cash rate to 2-year low

NAMPA / Xinhua

2024-11-27

WELLINGTON, Nov. 27 (Xinhua) -- The Reserve Bank of New Zealand's Monetary Policy Committee on Wednesday cut the official cash rate (OCR) by 50 basis points to 4.25 percent, the lowest since November 2022, as inflation returns to the target band. The move followed another 50-point cut in October. It has been the third OCR drop since August, a reduction of 125 basis points combined. The latest drop would mean more relief for Kiwis' back pock......

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