New Zealand lowers official cash rate, leading to Asian shares rise and NZD depreciation.

Asian shares rise amid New Zealand's rate cut, causing the kiwi currency to slump. New Zealand's central bank lowered its official cash rate to stimulate the economy amid the pandemic's impact. The rate cut fuels optimism for regional market growth, while the kiwi currency weakens, highlighting the currency's sensitivity to interest rate changes.

August 14, 2024
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