New Zealand Cuts Interest Rate To Record Low 1.75 Percent

New Zealand cuts interest rate to record low 1.75 percent

WELLINGTON, (Pakistan Point News - APP - 10th Nov, 2016 ) : New Zealand's central bank cut its benchmark interest rate 0.25 percent to a record low of 1.75 percent Thursday, citing low inflation and uncertainty in international markets. "Political uncertainty remains heightened and market volatility is elevated," the bank said in a statement announcing the widely anticipated move.