Rabobank a tad more hawkish after inflation data

Rabobank's new forecast is now in line with others'. (Image: Getty)

Fri, 19 Jul 2024

Several economists moved to expect earlier rate cuts after this week’s inflation data, but Rabobank New Zealand has bucked the trend.Rabobank has been anticipating the first rate cut in August since November last year. It now expects the first move in October.“While there is substantial evidence to suggest that our view of a dramatic slowdown in the economy this year is accurate, we now expect that domestic inflationary pressures have not receded quickly enough for the RBNZ to be comfortable to cut in August,” senior macro str...

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