The post on the rate cut is here:
The summary of the minutes showed the beginnings of wariness on the Board for further rate cuts, notably:
- Committee discussed the options of keeping the OCR on hold at 3.50 percent or reducing it to 3.25 percent
- By a majority of 5 votes to 1, the committee agreed to decrease the OCR by 25 basis points from 3.50 percent to 3.25 percent
While the projected path ahead showed a lower rate, its not perhaps as quick as many in the marekt were looking for.
NZD/USD has bounced:
This article was written by Eamonn Sheridan at www.forexlive.com.
