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Biggest ever rate cut for NZ

Staff Reporter 1 minute read

The Reserve Bank of New Zealand has slashed its cash rate by one per cent to 6.5 per cent.

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This unprecedented move was the result of “ongoing financial market turmoil and a deteriorating outlook for global growth”.

New Zealand’s cash rate has now been cut by 175 basis in just four months from its high of 8.25 per cent up until June this year.

Published: 23-10-08

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Biggest ever rate cut for NZ
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