Reserve Bank of New Zealand announce cash rate cut to 5.25%

Reserve Bank of New Zealand has cut its Offical Cash Rate by 25 bps. Market pricing had tipped this, while most analyst did not.

Added - a few tech gremlins have beset me ... I've posted all the statement and minutes main points separately, here:

• ICYMI - RBNZ cut its cash rate by 25bp, market consensus was for on hold

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Background on this:

• Reserve Bank of New Zealand decision due soon. Which will it be, a dovish hold or a cut?

• Reserve Bank of New Zealand meet today - BNZ calls for an immediate rate cut

• RBNZ monetary policy meeting - Reuters poll is not clear cut, 19 say hold, 12 say 25bp cut
• ANZ forecast the RBNZ to remain on hold next week, signal a rate cut later in the year
• NZD traders - Westpac forecasts the RBNZ to cut by 25bps in October and November 2024

• New Zealand - RBNZ shadow board split on Reserve Bank interest rate cut