New Zealand Cuts Interest Rate To Record Low 1.75 Percent
Sumaira FH Published November 10, 2016 | 01:30 AM
WELLINGTON, (APP - UrduPoint / Pakistan Point News - 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.
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