New Zealand retail sales data for Q3 is the highlight. Retail spending in NZ has been pressured by high rates and a weak economy, and this is expected to show in the data again today, despite the RBNZ kicking off its easing cycle in August:The RBNZ reduced the Official Cash Rate (OCR) by 25 basis points, bringing it down to 5.25%. This marked the first rate cut since March 2020, signaling a shift from the previous tightening stance.with another cut in October:In response to a weakening economy and subdued inflation, the RBNZ implemented a more substantial cut of 50 basis points, lowering the OCR to 4.75%. This decision aimed to provide additional stimulus to the economy.Another cut, likely 5
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