New Zealand's central bank

Today's decision brings the cumulative reduction in the OCR since July 2008 to 4.75 percentage points. Lower interest rates will have a positive impact on growth, alongside a lower exchange rate and fiscal stimulus, provided firms and households do not unnecessarily contract their spending," said Reserve Bank Governor Alan Bollard.

U.S. auto sales

GM said U.S. total vehicle sales would reach 10.5 million units in 2009. The initial plan included a downside scenario of 10.5 million U.S. sales in 2009 with a baseline scenario of 12 million sales.
GM said global sales would fall to 57.5 million vehicles in 2009, down 6.3 million from the previous forecast. The company also lowered its global industry volume assumptions for 2010-2012.