The Reserve Bank is expected to cut interest rates again this week.
Economists expect another cut of 25 basis points on Thursday, which would lower the Official Cash Rate to 7.75%.
The Reserve Bank is expected to issue its monetary policy statement at the same time.
The OCR was lowered to 8% from 8.25% on 24 July. It was the first cut since July 2003. Governor Alan Bollard said that inflation of 5% was expected.
Tax cuts take effect on 1 October. Finance Minister Michael Cullen said in July that the Government will post larger deficits than forecast in the Budget in May because of this.
The Reserve Bank of Australia cut its official cash rate on 2 September for the first time in seven years, to 7%. The previous rate of 7.25% was set in March and was a 12-year high.
Other offshore rates include: United States Federal Reserve 2%; Bank of England 5%; European Central Bank 4.25%; and South Korea 5.25%.
In August, the Bank of Japan held its rate at 0.5%. It was raised from 0.25% in February 2007.