Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

New Zealand cuts another 150bps off cash rate

Staff Reporter 1 minute read

The Reserve Bank of New Zealand (RBNZ) slashed the cash rate overnight by a whopping 150 basis points to 3.5 per cent.

Advertisement
Advertisement
The reduction was the second consecutive 150 basis point reduction from the bank, whose cash rate sat at a record high of 8.25 per cent in just July last year.

Allan Bollard, RBNZ governor, said “the news coming from our trading partners is very negative. The global economy is now in recession and the outlook for international growth has been marked down considerably since our December Monetary Policy Statement”.

COMMENT HERE 

New Zealand cuts another 150bps off cash rate
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
digital Brokers cite refinancing as key profit driver

The vast majority of brokers believe that refinancing clients is ...

2017 09 031 Mortgage-holders explore refinancing amid COVID-19

New research has revealed that the majority of mortgage-holders b...

cash money rolls Funding offered for SME financial wellbeing projects

A major bank’s investment vehicle is offering $150,000 to entre...

FROM THE WEB