I'm not saying the NZ economy isn't on very shaky ground right now, but that article is way off the mark

"Similarly, while growth in dairy consumption by Chinese households was massive, it was going to have its limits."

Except, dairy prices have been about the same, or a mild increase over the past 5 years, and I would be surprised if we have reduced production over the past 5 years?

https://www.globaldairytrade.info/en/product-results/whole-milk-powder/

My gut feeling is that they dropped the interest rate more in reaction to the domestic housing market being now firmly decreasing - if they let it crash then the impact will be much worse to the national economy rather than letting it down easily.