Westpac - Q1 GDP seals the case for a July Reserve Bank of New Zealand rate cut

Westpac response to the big miss for NZ Q1 GDP

• Says that the Q1 GDP miss seals the case for a July Reserve Bank of New Zealand rate cut (data is here ... better have a barf bag handy)
• Westpac says they are 'seriously considering' forecasting further rate cuts from the RBNZ beyond July
... pending further analysis of today's GDP data