Weak NZD may curb RBNZ's appetite for Feb 50bp rate cut

Weak NZD may curb RBNZ's appetite for Feb 50bp rate cut
Questions are being raised about RBNZ Governor Adrian Orr's plans to cut in February. (Image: BusinessDesk)
Rebecca Howard
Ongoing US dollar strength continues to clip the New Zealand dollar’s wings, and the inflationary fallout could see the Reserve Bank of NZ think twice about a 50-basis point rate cut next month. “There’s a lot of water to go under the bridge yet, but the anticipated 50 basis point cut by the RBNZ [Reserve Bank of NZ] in February should not be considered a done deal. Indeed, we think there is much more chance of a 25 than a 75,” BNZ senior economist Doug Steel said. The market is widely expecting the RBNZ to cut...

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