RBNZ monetary policy meeting Wednesday - preview of a foregone conclusion

Author: Eamonn Sheridan | Category: Central Banks

The Reserve Bank of New Zealand cash rate meeting is on August 7 2020.

  • announcement is due at 0200GMT
  • current cash rate is 1.5%
  • consensus is for a 25bp cut, thus to 1.25%
I should stick a caveat on that headline, a 25bp cut is "almost a foregone conclusion" say KiwiBank analysts.
  • and there is an 80 to 90% probability of another cut in November
Further out:
  • cut to 0.75% a 60-70% probability (in early 2020)
citing:
  • global uncertainties
  • peers like the RBA likely to cut to 0.5%
  • a softening domestic economy
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