Economists now expect August rate cut from RBNZ

Economists now expect August rate cut from RBNZ
Rebecca Howard
By Rebecca Howard June 26 (BusinessDesk) - Economists say the central bank will cut interest rates in August given the monetary policy committee said risks are tilted to the downside and that more support from monetary policy was likely to be necessary.  The Reserve Bank kept the official cash rate at 1.5 percent and said the outlook for the economy has softened since its May assessment. All 20 economists polled by Bloomberg had expected the bank to stand pat. Last month it cut rates by 25 basis points, citing concerns about the employmen...

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