NZD traders heads up - RBNZ meet this week - most analysts expect a rate cut

Author: Eamonn Sheridan | Category: Central Banks

Reuters polling has 12 out 15 expected a cash rate cut from the Reserve Bank of New Zealand  this week. 

RBNZ meet Wednesday 13 November. I posted this a little earlier:
ASB expect a cut, citing:
  • short-term growth outlook is subpar
  • risks are skewed to the downside
  • RBNZ need to take out more insurance to prevent a more protracted undershoot of its employment and inflation objectives
ANZ also expect a cut and:
  • the door to be left ajar to an even lower OCR
  • inflation expectations low and at risk of falling further, a rate cut is the path of least regret
WPAC is tipping an on hold decision though, citing:
  • labour market is in better fettle than one would expect
  • WPAC add that its a close call. 

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RBNZ cut rates by 50bps back in August

Reuters polling has 12 out 15 expected a cash rate cut from the Reserve Bank of New Zealand  this week. 



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