ASB and CBA both expect the Reserve Bank of New Zealand to cut rates twice this year

  • ASB cite concerns over wage inflation data and dairy prices
  • CBA expect a cut in September and again in October, but note a risk of a cut as soon as June
    Added ...
    Bonus .... 3rd bank also expecting 2 cuts:
    Deutsche Bank expect cuts of 25bp in June and July meetings
    Cite today's employment data ... "The case for easing policy has been strengthened considerably by today's data"
    "RBNZ will continue to harbour concerns about the risks of further fuelling the Auckland housing market
    RBNZ is also concerned about the high level of the exchange rate and the recent evolution of global dairy prices
    We expect that the new projections that the RBNZ will present in the June Monetary Policy Statement will provide sufficient rationale for some policy easing and no obvious rationale for delay."