Goldman Sachs: RBNZ could surprise with 75bps rate cut in November ...Middle East

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Goldman Sachs: RBNZ could surprise with 75bps rate cut in November
Goldman Sachs anticipates potential for a more aggressive rate cut from the RBNZ in November, with a 75bps cut on the table, although this is unlikely to push AUD/NZD significantly higher. Despite a dovish outlook, the New Zealand dollar’s downside may be limited by already-pessimistic market positioning.Key Points:Goldman now forecasts two further rate cuts from the RBNZ: 50bps in both November and February, with an elevated risk of a 75bps cut in November.New Zealand’s economic fundamentals, including weak labor market indicators, support an aggressive rate-cutting cycle.Inflation remains high but has dropped within the RBNZ’s 1-3% target range, likely to ease further due to slower growth

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