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NZ CUTS RATES TO RECORD LOW OF 2.5%.
WELLINGTON, May 1 Asia Pulse - New Zealand's central bank has cut the official interest rate by 50 basis points to a record low of 2.5 per cent because of the impact of the global economic crisis.
Reserve Bank of New Zealand governor Alan Bollard said he did not expect to start lifting the official interest rate (OCR) again until the latter part of next year.
The scale of the financial and economic crisis ...
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Source: HighBeam Research, NZ CUTS RATES TO RECORD LOW OF 2.5%.