Reserve Bank of New Zealand Cuts Official Cash Rate to 1.50% from 1.75%

May 8, 2019

Today’s central bank interest rate cut is the eighth of this easing cycle but the first since a similar-sized reduction 30 months earlier. Quarter percentage point cuts also were made in June, July, September and October of 2015 and in March and June of 2016. Policy continues to have a downside bias. A released statement observes slower global growth since mid-2018, easier monetary policy actions at several other central banks, and considerable global outlook uncertainties particularly in the area of trade. With unused capacity slipping quite gradually and amid lessening imported inflation, New Zealand inflation is projected to rise only slowly.

Copyright 2019, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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