New Zealand central bank cuts rates by 50 basis points

WELLINGTON, Feb 19 (Reuters) - New Zealand's central bank cut its benchmark rate by 50 basis points to 3.75% on Wednesday as policymakers sought to revive a struggling economy, and markets bet that moderating inflation will bring borrowing costs even lower over coming months.

The decision was in line with a Reuters poll where 32 of the 33 economists surveyed forecast the Reserve Bank of New Zealand (RBNZ) will cut the cash rate for the fourth straight meeting, and by half a percentage point.

The central bank has now cut rates by 175 basis points since August, with a slowdown in inflation giving policymakers leeway to extend their easing efforts in a much needed boost for an economy struggling to emerge from a recession.