Reserve Bank of New Zealand Asssitant Governor McDermott remarks crossing Reuters now
- Says central bank projections show one more cut likely, another possible
- Does not give timeframe for cut but says 'we have a big chance to assess in November'
- Says markets over-anticipated central bank move
- Says high exchange rate was a key concern
- Main reason for cut is to manage inflation expectations
- If NZD higher than forecast, risk of more rate cuts increases
I don't really know where to start with this ....
OK:
"markets over-anticipated central bank move"
- If this means the market picked the policy PERFECTLY, then yeah.
"If NZD higher than forecast, risk of more rate cuts increases"
- 'Cause that works so well, right?
FFS, maybe the NZD is not the only thing that is high
