New Zealand Bows to Global Easing Pressure Sending Kiwi TumblingBy
Weak inflation expectations may become self-fulfilling: RBNZ
Central bank forecasts 90-day bill rate at 2.2% by year-end
New Zealand’s central bank unexpectedly cut interest rates to a fresh record low and said further easing may be needed, joining global counterparts in adding stimulus to an economy struggling to generate inflation. The kiwi plunged almost 1 1/2 U.S. cents.
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