ANZ sees RBNZ cutting interest rates to 1%

Thu, 20 Dec 2018

By Rebecca Howard Dec. 20 (BusinessDesk) - A weaker outlook for medium-term inflation, risks to global growth and liquidity, and proposed capital changes for New Zealand banks could lead the Reserve Bank to cut rates three times between now and 2020, ANZ Bank says. The official cash rate is currently at 1.75 percent and the central bank's latest forecast in November signalled a quarter-point rate hike by December 2020. At the time, however, governor Adrian Orr reiterated a rate cut was not out of the question. "We have changed our O...

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