A 50-basis point cut is still on the cards

Most economists tip a dovish move from the RBNZ. (Image: Unsplash)

Wed, 02 Oct 2024

Businesses may be in a slightly better mood, but economists aren’t ruling out a 50-basis point rate cut next week.“We’re calling for a 50bp cut. It’s needed, and the business confidence report supports the view. Game on,” said Kiwibank chief economist Jarrod Kerr.The official cash rate (OCR) is currently 5.25% after the central bank cut rates by 25 basis points in July. The next review will be on Oct 9. The NZ Institute of Economic Research’s latest Quarterly Survey of Business Opinion (QSBO) showed a ne...

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