No respite for NZD as RBNZ set to cut cash rate by 50bps

(Image: Getty)

Wed, 20 Nov 2024

The New Zealand dollar is hovering around a 12-month low as economists remain firm in their view that the Reserve Bank of NZ will cut the official cash rate by 50 basis points next week to 4.25%.NZ Bank chief economist Sharon Zollner and senior strategist David Croy said they expect the Monetary Policy Statement (MPS) to convey the message, "We got this".“We expect a 50bp cut to 4.25% next week. That would be consistent with RBNZ [Reserve Bank of NZ] October messaging, economists’ forecasts, and market pricing.”The R...

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