RBNZ could hint cuts may come sooner

RBNZ governor Adrian Orr. (Image: BusinessDesk)

Mon, 08 Jul 2024

The Reserve Bank of New Zealand is expected to keep rates on hold at 5.5% on Wednesday but may hint at future rate cuts coming sooner than it forecast in May. In May, the Reserve Bank of NZ (RBNZ) surprised markets by lifting its forecast track for the official cash rate (OCR), opening up the possibility that it could hike again and pushing back any possible rate cuts to August 2025. Disagreement Tough economic times, however, have prompted most economists to disagree. ASB Bank now expects rate cuts in November versus a prio...

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