ANZ highlights that the upcoming RBNZ meeting is unlikely to spark a positive shift for the NZD. Market expectations of a 50bp rate cut align with ongoing dovish policy trends, keeping downside pressure on the NZD against the USD and AUD. While year-end seasonality could provide some upside, near-term prospects remain neutral to negative.Key Points:RBNZ Meeting Expectations:ANZ expects a 50bp rate cut, consistent with market pricing.Recent RBNZ meetings have been NZD-negative, with even “hawkish” surprises yielding only brief gains.A more dovish result, such as a 75bp cut, could result in a 1% or more decline in NZD/USD.Economic Backdrop:New Zealand’s activity data, including PMI and PSI, re
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