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Westpac now expect an RBNZ rate in August and another in November

Westpac now expect an RBNZ rate in August and another in November

Central Banks
Eamonn Sheridan
24/07/2019 | 20:51 GMT

WPAC in NZ had been forecasting an August cut (RBNZ meeting is August 7), adding in the Nov. call now also.

  • Current cash rate is 1.5%
  • Two cuts would take it to 1%

More:

  • WPAC note there is a risk of a cut in Sept. following the August cut. Developments in the labour market the thing to watch - low business confidence is weighing on jobs growth
  • Domestic economy has slowed further than expected
  • Says the RBNZ concerned on recent bouts of strength for the NZD
WPAC in NZ had been forecasting an August cut (RBNZ meeting is August 7), adding in the Nov. call now also.

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