Strong June qtr GDP growth should quell rate cut risk

Fri, 14 Sep 2018

By Rebecca Howard Sept. 14 (BusinessDesk) - Strong economic growth should calm expectations for a possible rate cut this year. Second quarter gross domestic product grew 0.8 percent for an annual gain of 2.5 percent, according to a Bloomberg survey of 16 economists. The Reserve Bank forecast 0.5 percent quarterly growth. ASB Bank senior economist Jane Turner says expected quarterly growth of 0.9 percent would be a significant surprise for the RBNZ but is unlikely to shift the track for the official cash rate. "The average pace of...

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