India, May 28 -- The New Zealand dollar recovered from recent lows against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand reduced its benchmark rate by a quarter-point, as widely expected.
The Monetary Policy Committee, led by acting governor Christian Hawkesby, decided to cut the Official Cash Rate by 25 basis points to 3.25 percent. The decision was passed by a 5-1 vote.
This was the lowest borrowing costs since August 2022. The bank started its current easing cycle in August 2024.
The economy is recovering after a period of contraction underpinned by higher commodity prices and lower interest rates.
Inflation is forecast to rise to 2.7 percent in the third quarter of 2025 and then retu...