Investors dialled back rate cut bets in New Zealand after its central bank lowered the cash rate for the third consecutive meeting, citing a subdued economy while signalling fewer cuts may be needed.
The Reserve Bank of New Zealand (RBNZ) cut the cash rate by another outsized half-a-percentage point to 4.25 per cent, as expected, bringing the reduction total to 1.25 percentage points since it started in August.
