Some welcome relief of the retail sector
Some welcome relief of the retail sector
9 May 2019
Slowing global and domestic growth, and trade concerns, have led the Reserve Bank to cut the Official Cash Rate to an all time low of 1.5 percent.
Retail 's been slow in recent months, but the latest drop should help stimulate the economy.
Retail NZ interim chief executive Greg Harford says it will put money back in Kiwis' pockets.
He says when people feel more wealthy - it often leads to increased spending on home improvements areas.
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