RBNZ cuts interest rates to 3.25%, further easing may be appropriate

FXStreet (Bali) - The Reserve Bank of New Zealand today cut the Official Cash Rate to 3.25% from 3.5%, while keeping the doors open to ease monetary policy even further down the road.. Consensus had been finely balanced over the past month, with institutional banks making valid arguments for both a hold and a cut, despite a slight majority of forecasters had favoured an unchanged 3.50% outcome.

Statement issued by Reserve Bank Governor Graeme Wheeler

RBNZ says further easing may be appropriate

RBNZ says rate cut needed given low inflation

RBNZ 90 day bank bill avg 3.4 pct sept (pvs 3.7 pct) ; 3.3pct dec (pvs 3.7 pct)

RBNZ 90 day bill 3.1 pct jun'16 (pvs 3.7 pct); 3.1 pct dec'16 (pvs 3.7 pct)

RBNZ says regulation changes to ease pressure on house prices

RBNZ sees annual cpi 0.7 pct end 2015 (pvs 0.4 pct); 2.1 pct at end 2016 (pvs 1.7 pct)

RBNZ sees gdp yr to march'16 +3.2 pct (pvs 3.5 pct); +3.1 pct yr to march'17 (pvs 3.3 pct)

RBNZ says further rate moves will depend on data

RBNZ sees risk that inflation return to midpoint may be further delayed