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Maroc Maroc - WN.COM - Business - 08/Oct 04:30

Reserve Bank delivers ‘shock treatment’ with 50 basis point cut

The Reserve Bank has cut the Official Cash Rate by 50 basis points to 2.5%. The bank delivered its latest Monetary Policy Review at 2pm today. The Monetary Policy Committee reached a consensus to reduce the Official Cash Rate (OCR) by 50 basis points (bps). The committee said it remained open to further reductions in the OCR as required for inflation to settle sustainably near the 2% target mid-point in the medium term. “It’s taking a lot of work to get this economy turning around and today’s decision will hopefully be the shock treatment required to get everyone back into gear,” said Kelvin Davidson, economist for property sector analyst Cotality. ASB chief economist Nick Tuffley said the...

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