Further responses to the RBNZ announcement - ANZ forecast more interest rate cuts ahead

Author: Eamonn Sheridan | Category: Central Banks

The Reserve Bank of New Zealand  decision today was a surprise:

ANZ now:
  • expect the RBNZ to cut rates again in May and August next year (ANZ were previously at today for a cut, 2 in 2020)
  • say risk to forecast is for earlier and or more than 2 cuts
Citing:
  • they expect the RBNZ to be disappointed on economic growth
  • RBNZ has made a meaningful revision lower heir estimate of the economy's 'speed limit' - makes future aggressive action less likely


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