RBNZ may follow market pricing and keep powder dry on rate cuts this week

Sun, 07 Jun 2015

By Jonathan Underhill June 8 (BusinessDesk) - The odds of the Reserve Bank cutting interest rates this week are less than 50 percent, based on market pricing, but with economic indicators printing weaker since the bank’s April 30 review it is expected to explicitly signal a cut in coming months. Governor Graeme Wheeler will keep the official cash rate at 3.5 percent, according to a Reuters survey of 14 economists. None expect an increase. Traders put a 43 percent change on a rate cut this week, based on the overnight interest swap curve,...

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