Sky News New Zealand correspondent Jack Nyhof discusses a 50 basis points cut to 4.75 per cent by the Reserve Bank of New Zealand.
“This 50 basis point cut was widely expected … the official cash rate is now down from 5.25 per cent to 4.57 per cent,” Mr Nyhof said.
“This is the second cut of the year the central bank says consumer price inflation is coming down as well – it is now within the bandwidth of one the three per cent.”
