Rate-cut expectations brought forward on dwindling business confidence

Tue, 02 Apr 2019

By Rebecca Howard April 2 (BusinessDesk) - Souring business confidence has several economists now expecting a rate cut by the Reserve Bank as early as May. Last Wednesday, the central bank surprised markets when it changed its language to say it now expects to cut the official cash rate from its already record low 1.75 percent. That triggered a slide in the kiwi dollar and pushed down swap rates and government bond yields. While some economists, such as ANZ Bank New Zealand chief economist Sharon Zollner, had been anticipating a reduc...

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