NZs central bank just cut its official cash rate to 3.25% and warned of more rate cuts to come. Last year rates were at 2.5% then they raised to 3.5% but now the cycle has reversed and - despite a housing bubble, especially in Auckland - they'll be cutting rates again moving forward. This time the RBNZ will be forced to follow the market, and a deflating housing bubble, all the way towards zero. Australia is set to follow trend too.
