ASB says the RBNZ will cut rates just one more time (forecasts May of 2020 rate cut)

An updated Reserve Bank of New Zealand outlook from 'New Zealand's ASB

• Sees another cut in May 2020

(ASB had previously been forecasting two more cuts)

In response to some encouraging data from NZ earlier today:

• NZ business confidence in November -26.4 (vs. prior -42.5) New Zealand - ANZ business survey for November

• NZD likes the improvement in business confidence and activity