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
