India, March 20 -- The New Zealand dollar weakened against other major currencies in the Asian session on Thursday, as the New Zealand's central bank hinted about two additional 25 basis point reductions in April and May, with a third cut perhaps coming later in the year.
The Reserve Bank of New Zealand (RBNZ) has lowered the official cash rate by 175 basis points to 3.75% since August 2024.
In economic news, the People's Bank of China kept its one-year loan prime rate unchanged at 3.10 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.60 percent.
Both the rates were last reduced by 25 basis points each in October 2024.
The announcement came after the U.S. Federal Reserve left its interest rate un...