New Zealand’s central bank cut interest rates by 50 basis points for the third straight meeting to help revive the ailing economy and signaled more easing in coming quarters.

New Zealand's central bank cut its benchmark rate by 50 basis points to 3.75% on Wednesday and policymakers flagged further reductions in borrowing costs amid moderating inflation as they sought to revive a struggling economy.

New Zealand's central bank slashed benchmark rates by 50 basis points to 3.75%, marking its fourth straight cut, as the country's economy slows down. The move was in line with expectations from economists polled by Reuters,