Video: OCR cut to 3.5%
29th Jan 09, 9:00am
by
The Reserve Bank of New Zealand has delivered a bigger than expected 150 basis point cut in the Official Cash Rate to a record low 3.5%, arguing a deteriorating global outlook and easing inflation pressures meant it had to add further stimulation to the economy quickly. (Updated with press conference comments, NZ$ reaction, Fed Farmers reaction, economist reaction.)
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