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10-Dec-2015 11:19:08 by Real Estate Investar
New Zealand's Reserve Bank is handing homeowners an early Christmas present, lowering the official cash rate to a record low 2.5 per cent.
Governor Graeme Wheeler trimmed 25 basis points off the rate in a move widely anticipated by the market.
It is the fourth rate cut in 2015 and comes despite recent signs of an increase in economic activity.
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