NZ economic growth above OECD average won't stop RBNZ rushing to cut rates again, economists say

Thu, 18 Jun 2015

By Jonathan Underhill June 18 (BusinessDesk) - New Zealand’s annual economic growth is comfortably above the average for OECD countries but that's unlikely to stop the Reserve Bank rushing to cut interest rates again at its earliest opportunity on July 23, economists say. Gross domestic product grew at just 0.2 percent in the first quarter, a third of the pace expected by the central bank and economists, and the weakest in two years. Both the oil and gas, and dairy, sectors suffered from weaker prices in the first quarter, which resulted...

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