The Reserve Bank of New Zealand has cut interest rates to 3%, a three-year low, to stimulate the economy.

The Reserve Bank of New Zealand has cut interest rates by 0.25%, bringing the rate down to 3%, the lowest in three years, in a bid to stimulate the economy.

Day 20 Aug 2568 Reserve Bank of New Zealand (RBNZ) The policy interest rate was further cut by 0.25% to 3.00%, the lowest level in three years, with the aim of supporting the still-weak economy and mitigating the impact of external pressures.

Since August 2567, the RBNZ has cut interest rates by a total of 2.50% to support the fragile economic recovery, while keeping inflation within its 1% to 3% target range, paving the way for policymakers to further ease monetary policy.

The Reserve Bank of New Zealand's latest decision was in line with a Reuters poll that showed 28 of 30 economists expected an interest rate cut after holding rates steady at its July meeting.

Source: infoquest

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