Reserve Bank of New Zealand's (RBNZ) Assistant Governor Christian Hawkesby told MNI News that he is "very happy" with the way in which interest rate cuts are feeding through into the economy. Hawkesby further added that rising house prices could boost consumption and ultimately inflation. The central bank in August stunned markets by cutting the official cash rate (OCR) by a bigger-than-expected 50 basis points to 1.00%. (full story)