The central bank cut rates to a record low of 0.5% during the financial crisis and ensuing global downturn.
The dollar fell against other major currencies except the pound sterling on Tuesday despite the rise in two key central bank interest rates.
The Government's plan proposes further cuts in central bank interest rates to stimulate investment.
And this will continue until the inter-bank lending rates converge with the central bank rate.
It was the second time in two months that the central bank cut rates right after unfavorable employment statistics were released.
An example of this is the Islamic banking system, which is characterized by a nation's central bank setting interest rates for most other transactions.
New Zealand's central bank cut rates by half a percent arguing the economy was in recession.
The surprise came in the swiftness of the decision to let the central bank set rates from here on.
Canada's central bank cut interest rates yesterday after the Government reported that the unemployment rate fell last month.
He raised central bank lending rates sharply, so far bringing them down only gradually.
