New Zealand Q2 GDP -0.2% q/q (expected -0.4%)
I posted the summary take from ANZ New Zealand here:
expect the RBNZ to deliver 25bp cuts at each meeting
More now, via Reuters. This from ASB, who stick to their call for the Reserve Bank of New Zealand cut by another 50 basis points by the end of the year:
data highlight that the economy was indeed in a
weak patch in the second-quarterwidespread evidence that
private demand is soft and that this is flowing through to
multiple sectors of the economy
Westpac:
financial
markets will fixate on the idea that the Federal
Reserve’s decision has opened the door for 50 basis point rate
cuts elsewhere, including in New Zealandbut “there isn’t much in the local data that argues for the
RBNZ to step up the pace of easing beyond what it had already
signalled in its August policy statement”
Dates coming up for the Reserve Bank of New Zealand:
This article was written by Eamonn Sheridan at www.forexlive.com.
