Global turmoil raises chances of larger RBNZ rate cut - meeting tomorrow ...Middle East

Prior to the recent market selloff, all 31 economists in a Reuters poll conducted from March 31 to April 3 forecast a standard 25 bps cut. The RBNZ has already eased by 175 bps since August in a bid to revive the weak economy and curb rising unemployment.

Former Governor Adrian Orr said in February that New Zealand had entered a low and stable inflation environment, with Q4 inflation at 2.2%—comfortably within the RBNZ’s 1–3% target range—giving policymakers more room to cut.

The New Zealand dollar, which had gained 5.3% this year, has been hit by the global risk selloff following President Trump’s April 2 tariff announcement. Though a 25 bps cut is priced in, a more aggressive move could be interpreted as supportive for NZD, especially as NZD/USD hovers near COVID-era lows ahead of the decision.

This article was written by Eamonn Sheridan at www.forexlive.com.

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