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Reserve Bank cuts Official Cash Rate by 0.5 percent to sit at 1 percent

Reserve Bank cuts Official Cash Rate by 05 percent to sit at 1 percent
'A stunning decision' - RBNZ delivers huge surprise with a 50-basis-point cut to the Official Cash Rate; banks quickly react with mortgage cuts; dollar drops""Interest.co.nzReserve Bank cuts OCR to 1 per cent, major banks lower mortgage rates""New Zealand
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