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The Reserve Bank has followed through on what ‘the markets’ and bank economists were expecting, with a 0.50% OCR cut today.
Inflation is considered to already be back in the target range (official data due Tuesday 16th) and the economy is weak, with the RBNZ noting we have ample spare capacity in NZ.
Check out today’s reactionary pod for Nick and Kelvin’s take on the decision.
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