Official Cash Rate Decision – 8th May 2019

The official cash rate (OCR) has been reduced to 1.5%.


The monetary policy committee has been reviewing slowing global economic growth, which has eased demand for New Zealand’s goods and services. 


Other central banks around the world are also in the process of easing their monetary policy positions as well.  They do this in order to help support economic growth.


Although the global economy has been performing well over the last couple of years, there are numerous signals suggesting a slowdown in global economic growth. 


In addition, reduced population growth through lower net immigration may flow on to house price softness in some areas, which also has a flow on effect throughout the broader economy.


Perhaps what is most interesting about this rate cut is whether or not another one will be required? 

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