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OCR cut prompted by falling dairy prices
Thursday 11th of June 2015
The cut of 25 basis points came earlier than predicted by most economists and is the first lowering of interest rates in over four years.
Reserve Bank Governor Graeme Wheeler said falling dairy prices and recent rises in petrol prices were the reason as they will slow income and demand growth.
This will increase the risk that the return of inflation to the mid-point would be delay...
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