Group 1 - The Reserve Bank of New Zealand lowered the benchmark interest rate by 25 basis points to 3%, aligning with market expectations [1] - The decision was influenced by stagnant economic recovery in Q2 and anticipated further cooling of inflation [1] - Current inflation is near the upper limit of the RBNZ's target range (1% to 3%), with expectations of a decline to around 2% by mid-2026 [1] Group 2 - Since August 2024, the RBNZ has cumulatively reduced interest rates by 250 basis points, one of the largest reductions among major Western economies [2] - Global monetary policy remains divergent, with various central banks taking different stances on interest rates [2] - The Federal Reserve has maintained its current rates but is widely expected to initiate its first rate cut of the year in September [2]