Reserve Bank announced New Zealand (Central) That price Interest The main rate became 4.25 percent, which was in line with the expectations of most analysts.
The bank reduced interest rates last month by 50 basis points after cutting them by 25 basis points last August.
The bank said in a statement that economic activity in New Zealand is still weak and the gross domestic product is still lower than it should be.
It is noteworthy that New Zealand’s gross domestic product contracted during the second quarter of this year by 0.2 percent, compared to the first quarter of the year, continuing its contraction for the fourth quarter in a row. It also recorded an annual contraction of 0.2 percent during the second quarter.
At the same time the rate helped Inflation The country continues to lower interest rates and stimulate economic growth.
And he said Central Bank Price growth pressures are easing as inflation remains in the middle of its medium-term target range of 1 to 3 percent annually.
According to Statistics New Zealand, the inflation rate last September was 2.2% annually.
