Economists gloomy about how far dairy prices will recover

Mon, 24 Aug 2015

By Fiona Rotherham Aug. 24 (BusinessDesk) - The outlook for dairy prices remains dire in the near term and will force the Reserve Bank to further cut interest rates this year, said economists at an Auckland conference, who collectively had a doom and gloom outlook for the New Zealand economy. Deutsche Bank chief economist Darren Gibbs said at the Standard & Poors economists breakfast that the only positive in the near term for dairy prices was the risk of a drought this summer, due to El Nino weather patterns. “It would be good for da...

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