Updated at 3:15pm on 10 October 2008 Economists say there is no urgent need for a cut in interest rates in New Zealand by the Reserve Bank. The US Federal Reserve, the European Central Bank, the Bank of England and central banks in China, Sweden, Switzerland and Canada on Wednesday cut their rates on Wednesday. South Korea and Taiwan also cut their interest rates on Thursday. The Reserve Bank of Australia cut its rate by a full percentage point from 7% to 6% on Tuesday. So far, New Zealand's central bank has not followed suit. The Reserve Bank indicated on Thursday it would wait until its next review on 23 October before considering interest rate...
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