The Reserve Bank of New Zealand is widely expected to cut its cash rate target by 50bp this week.
Preview comments from KiwiBank:
we’re expecting another 50bps rate cut on Wednesday. It’s the right thing to do. We know it, the market knows it, and the RBNZ should know it too.
The updated OCR track will be the focus, and has the most market-moving potential. We expect the track to be lowered, and rate cuts pulled forward. Another quarter will be added to projections, which we hope will signal a move closer to neutral. The updated economic projections may also show a faster turnaround in economic growth compared to their last set of forecasts. Again, the outlook has improved marginally given the RBNZ has delivered more easing than expected.
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Earlier:
Reserve Bank of New Zealand (RBNZ) Shadow Board recommend a 50bp cash rate cut this week
ANZ forceast a 50bp interest cut from the RBNZ next week
Reuters poll: RBNZ to cut cash rate to 4.25% on November 27Goldman Sachs expects a 50bp Reserve Bank of New Zealand rate cut this month
2pm New Zealand time on the 27th is:
0100 GMT on the 27th2000 US Eastern time on the 26th
This article was written by Eamonn Sheridan at www.forexlive.com.
