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After cutting rates last month the RBNZ, decided to reduce interest rates by another 0.25 basis points to 3.00%. Ongoing concerns over falling dairy prices, global economic volatility and an overvalued dollar have all combined to ensure a second consecutive rate cut.
After holding the cash rate steady for the past six meetings the RBNZ, decided to cut rates by 0.25% to 3.25% in June. With steps being taken to reduce the strong price growth in Auckland’s property market and inflation close to zero, the RBNZ felt the time is right to begin its rate cutting cycle.
Cutting rates

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