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Bollard signals end to steep easing cycle as economy troughs
Thursday 12th of March 2009
While New Zealand’s economy has fallen into a “deeper and more prolonged recession,” interest rates were now at “very stimulatory levels,” he said. The kiwi dollar jumped to 51.20 US cents after the statement from 50.54 cents immediately before.
“Rates could go lower, like 2%, but it was unlikely, and possibly negative for them go any lower,”...
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