The Reserve Bank of New Zealand unexpectedly cut interest rates by 25 basis points, the first rate cut since March 2020

The Reserve Bank of New Zealand unexpectedly cut interest rates by 25 basis points, from 5.5% to 5.25%, the first rate cut since March 2020, and market expectations remain unchanged. Previously, the Reserve Bank of New Zealand chose to keep interest rates unchanged for eight consecutive times. (Jinshi)