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New Zealand central bank cuts rates to 2.75 percent

Published 10/09/2015, 07:09 am
Updated 10/09/2015, 07:17 am
© Reuters. New Zealand central bank cuts rates to 2.75 percent

WELLINGTON, Sept 10 (Reuters) - New Zealand's central bank cut its benchmark interest rate by 25 basis points to 2.75 percent on Thursday, and said further easing seemed likely to shore up slowing growth in the economy.

Thirteen economists polled by Reuters had expected the Reserve Bank of New Zealand (RBNZ) to cut rates by 25 basis points. The bank has cut rates by twice already this year.

New Zealand's rates compare with 0-0.25 percent in the United States, 0-0.1 percent in Japan, 0.05 percent in the euro zone, and 2.00 percent in Australia.

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