New Zealand’s central bank, the Reserve Bank of New Zealand (RBNZ), says recent interest rate cuts are taking longer to lift the economy, as global trade uncertainties and US tariffs weigh on business and consumer confidence, Reuters reported.
The RBNZ cut its policy rate to 3.00 percent on Wednesday, part of a 250-point reduction since August 2024, and signaled more cuts ahead.
Governor Christian Hawkesby said the economy is likely near its low point, with growth expected to pick up in the second half of the year.
