New Zealand central bank cuts interest rate to 2.5 pct amid weak growth

NAMPA / Xinhua
2025-10-08
WELLINGTON, Oct. 8 (Xinhua) -- New Zealand's central bank cut its official cash rate (OCR) by 50 basis points to 2.5 percent on Wednesday to revive weak economic growth. The Reserve Bank of New Zealand's (RBNZ) Monetary Policy Committee said annual consumer price inflation is near the top of its 1-3 percent target band but spare capacity in the economy should bring it down around the 2 percent target mid-point over the first half of 2026, acco......
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