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RBNZ Update

RBNZ
The Reserve Bank of New Zealand surprised markets by cutting the cash rate 25 points from 1.75% to 1.50% at 2pm today.
Global growth has slowed since the last quarter of 2018 so a cut was necessary to support the outlook for employment and inflation. The RBNZ sees annual CPI at 1.7% by June 2020.
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