In a move viewed as dovish by economists, the Reserve Bank cut the Official Cash Rate by 25 basis points to 3.5%, with further cuts potentially needed to stimulate the economy. Kiwibank economists recommend a quick reduction to 2.5% by year-end due to global economic uncertainty, while the impact of increased tariffs on global inflation remains unclear under new interim Governor Christian Hawkesby’s leadership.
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King’s Birthday Weekend Weather: 130km/h winds and large swells hit NZ
A strong west to southwest flow will bring 130km/h winds and 6m waves this weekend. Warnings are in place for severe gales and large swells, particularly affecting the South Island, with MetService highlighting risks along western coastlines. For those planning beach getaways, these conditions will result in substantial southwest swells throughout the weekend. However, Monday is expected to be calmer, providing the best conditions for outdoor activities. Full Article
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