• CBA say that a rate cut from the Reserve Bank of New Zealand is more likely over the next year than a hike
  • Inflation is “dead”
  • Unlikely to be resurrected this year
  • And if the RBNZ moves to neutral bias next week (they meet on January 29), the “door to rate cuts will be ajar”

via Bloomberg

ps. I can;t remember where I saw it this morning, but Westpac said the next RBNZ is so far away it’s a ‘red herring’.