NZD weakens as the RBNZ cut rates

Today’s comment Majors & Scandies By the Majors & Scandis Team Overnight the Reserve Bank of New Zealand (RBNZ) cut the Official Cash Rate by 25 bps to 8.00% after having kept rates unchanged for a year. Market participants had been split on the outcome of the monetary policy meeting as the central bank faces the difficult dilemma of an economy headed towards recession and rapidly rising inflation. However in a statement the central bank said that it expects the downturn in activity to
[visit website]