RBNZ: Cut rates by 25bps to 2.00% as expected

Following are the key headlines from RBNZ monetary policy announcement crossing the wires via Reuters, following the expected rate cut by 25bps:

• RBNZ sees 90-day bank bill avg 2.1 pct dec 2016 (pvs 2.2 pct)
• Says further policy easing may be needed
• Sees 90-day bank bill avg 2.0 pct march 2017 (pvs 2.2 pct)
• Monetary policy to remain accommodative
• Sees 90-day bank bill avg 1.8pct june 2017 (pvs 2.1 pct)
• RBNZ says closely watching economic data
• Sees annual cpi +1.0pct dec 2016 (pvs +1.3 pct)
• Says a decline in NZD is needed
•  Sees twi nzd at around 75.9 by dec 2016