RBNZ cuts rate
The Reserve Bank today reduced the Official Cash Rate from 5.75% to 5.50%.
Monday, April 28th 2003, 7:04PM
by The Landlord
"The available data suggest that growth in the New Zealand economy is slowing as we projected in our March 2003 Monetary Policy Statement. A weak international economy is now being reflected in softer activity in New Zealand's tradable sector. The domestic economy remains relatively robust, especially in the housing market. However, the weaker tradable sector is expected to feed through into reduced domestic demand elsewhere in the economy, as exporters' incomes decline.
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