RBNZ likely to cut again but no longer sees kiwi as overvalued
Posted on July 23, 2015 at 10:19 am GMTThe Reserve Bank of New Zealand (RBNZ) cut its official cash rate on Thursday by 0.25% to 3.00%, as was widely expected by analysts. This is the second cut in two months by the RBNZ and follows June’s quarter point cut. New Zealand’s central bank was one of the first in advanced economies to start raising rates after the financial crisis when it began lifting interest rates in early 2014. However, the outlook for the New Zealand economy worsened dramatically [..]