RBNZ tomorrow morning

The central bank of New Zealand is expected to keep interest rates on hold at 2.5% when it meets tomorrow morning and the general consensus is that the subsequent statement will be more dovish, signalling a 25bps rate cut in coming months. The weaker NZD this month will ease central bank worries but it would nonetheless be no great surprise if the RBNZ cut rates tomorrow, given the weakish state of the economy and the global economic outlook; GDP and CPI forecasts will probably stay as they were.