Will the second cut be the deepest?

RBNZ Governor Adrian Orr. (Image: BusinessDesk)

Tue, 08 Oct 2024

Bets are being laid on whether the Reserve Bank of New Zealand cuts by 50 or 25 basis points this week and the kiwi dollar is poised to gain if it opts for less rather than more. The official cash rate (OCR) is currently at 5.25% and local bank economists all agree the Reserve Bank of NZ (RBNZ) will cut by 50bps to 4.75% at 2pm on Wednesday. “A 25bp cut is sure to disappoint and will see the kiwi dollar shoot higher,” Kiwibank economists said. The NZ dollar was trading at 61.71 US cents late on Monday in Wellington, d...

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