New Zealand: Recession Over?
New Zealand: Recession Over? December 3, 2008 The Reserve Bank of New Zealand cut interest rates by 150bp this afternoon to 5 percent. This is the largest interest rate cut for the central bank and brings their total easing since July to 325bp. Although the degree of the rate cut was not that big of a surprise, the comments from RBNZ Governor Bollard were very interesting. Even though he said that further rate cuts may be warranted, he also indicated that recession in New Zealand
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