Reserve Bank's rate cut decision on a knife edge

Sun, 05 May 2019

By Rebecca Howard May 3 (BusinessDesk) - Will New Zealand's new monetary policy committee opt to cut or will it hold? Markets are split, as are economists with Westpac Bank saying the decision is "on a knife edge" and ASB Bank calling it "finely balanced." Market pricing points to a 50 percent chance of 25 basis-point rate cut to 1.5 percent. The median in a Bloomberg poll of 17 economists is for a 25 basis-point rate cut to 1.5 percent. Reserve Bank governor Adrian Orr surprised markets in March when he said "given the weaker global...

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