Jun
10
RBNZ Sees Scope for Another Rate Cut Despite Auckland Boom
By
RBNZ Governor Graeme Wheeler. Photographer: Mark Coote/Bloomberg
New Zealand’s central bank lowered interest rates for the first time in four years to boost inflation as growth slows, setting aside the danger of fueling an Auckland housing boom. The currency plunged toward a five-year low.
“We expect further easing may be appropriate,” Governor Graeme Wheeler said Thursday in Wellington after cutting the official cash rate a quarter percentage point to 3.25 percent. The bank’s forecasts assume one more rate cut by mid-2016…
RBNZ Sees Scope for Another Rate Cut Despite Auckland Boom
