Reserve Bank of New Zealand cuts cash rate by 50bp, as expected ...Middle East

Reserve Bank of New Zealand In summary from the statement: The Monetary Policy Committee (MPC) has reduced the Official Cash Rate (OCR) by 50 basis points to 4.25%.Inflation: Annual inflation has decreased and is near the 1–3% target midpoint. Inflation expectations and core inflation are also aligning with this midpoint. Further OCR reductions are anticipated early next year if economic conditions remain on track.Economic Conditions: Economic activity in New Zealand is subdued, with output below potential and excess capacity reducing inflation pressures. Falling import prices and stabilized domestic price and wage behaviors are contributing to lower inflation.Future Outlook: Economic growth

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