New Zealand’s central bank has reduced its benchmark interest rate for the fourth consecutive time, lowering it by 50 basis points to 3.75% on Wednesday.

New Zealand's central bank slashed benchmark rates by 50 basis points to 3.75%, marking its fourth straight cut, as the country's economy slows down.

New Zealand's central bank cut its benchmark rate by 50 basis points to 3.75% on Wednesday and policymakers flagged further reductions in borrowing costs amid moderating inflation as they sought to revive a struggling economy.

New Zealand's central bank slashed benchmark rates by 50 basis points to 3.75%, marking its fourth straight cut, as the country's economy slows down. The move was in line with expectations from economists polled by Reuters,