Back in October, RBNZ governor Graeme Wheeler said some reduction in NZ’s official cash rate (OCR) was “likely” but as with any central banker he said such a move would “depend on the emerging flow of economic data”. The data has turned out to be supportive of such a reduction because the RBNZ moved to reduce the OCR by 0.25% to 2.50%. It said CPI inflation is below its 1.00%-3.00%...