Rate decision odds are tight, NZD set for a wild ride

Economists are divided, markets are still picking a cut. (Image: NZME)

Wed, 14 Aug 2024

Wednesday’s rate decision is on a knife’s edge, and the New Zealand dollar looks set for a wild ride given the odds. Westpac Bank's financial markets strategist, Imre Speizer, told BusinessDesk: “A market reaction is likely." This may turn out to be an understatement.The official cash rate (OCR) is currently at 5.5%, and there has been heated debate about when the Reserve Bank of NZ (RBNZ) may start easing, particularly after it took a more dovish stance in July. The NZD was trading at 60.33 US cents late Tu...

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