This massive reduction in New Zealand interest rates was not expected and the central bank is "open to further reductions".
The New Zealand Dollar is under pressure ahead of Wednesday's decision.
Analysts at BCA Research say the New Zealand Dollar is prone to further weakness.
The pound has just hit its highest level against the New Zealand Dollar since the April tariff 'liberation day' spike.
Horizon Currency Ltd
Albany House
14 Shute End
Wokingham
RG40 1BJ Companies House Registration: 11242368
Horizon Currency's payment and foreign currency exchange services are provided by:
1) Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508).
2) Sciopay Limited Registered in England and Wales (registered no. 12352935). Registered Office: WeWork, WW Moor Place Limited, 1 Fore Street Avenue, London, EC2Y 9DTE. Sciopay Ltd is registered with the Financial Conduct Authority (927951).