COMMENT:

The Reserve Bank has made a bold bet, doubling down to slash the official cash rate 0.5 per cent to an all time low of 1 per cent.

There is a strong logic to the move.

By moving more aggressively now the RBNZ has surprised the market and pushed ahead of expectations.

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Markets had already priced in at least two rate cuts this year - so why wait?

The move has achieved a much stronger drop in the currency than it could have with incremental cuts - delivering an immediate boost for exporters.

It will also likely drive a

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