How much? I am currently away from my computer – this was a time delayed post 🙂
Still go to the RBNZ site and post down in the comments what happened 😉
How does it compare to our discussion yesterday?
Update: 50bp cut. Medium term growth is strong, and we get back to “potential” by 2012. I think the earlier comment I had about medium term growth being a driver needs more qualification – I was assuming that the Bank believed any decline was temporary, and as a result the timing of the recovery is what I felt would be an important determinant of the cut today – and the ultimate terminal rate.