Tag: Alan Bollard

• Thursday, March 10th 2011 - 22:26 UTC

  New Zealand cuts basic interest rate to help with earthquake recovery

  

  New Zealand's central bank has cut the cost of borrowing to try to reduce the economic impact of the earthquake in Christchurch, the country's second largest city. The Reserve Bank of New Zealand cut the key interest rate 0.5 points to 2.5%.