The Reserve Bank of New Zealand decided to lower the interest rate by 0.25% to 2.25% due to the risk of slowing down of the global economy. Particular attention was paid to the risks associated with China and the market of dairy products. Current growth in the country is maintained by tourism, migration and construction. In New Zealand the regulator does not exclude the possibility of further easing of monetary policy that in the future will lead to a continuation of negative dynamics with the first targets at 0.6450, 0.6250 and 0.6000. Our medium-term outlook remains negative.