Westpac now expects the Reserve Bank of New Zealand to step up its easing cycle, forecasting the Official Cash Rate will be lowered to 2.5% at the October meeting and then cut again to 2.25% in November.
The bank said the RBNZ faces mounting pressure to loosen policy more aggressively as growth slows and inflation moderates, leaving scope for back-to-back moves before year-end.
This comes after the terrible data earlier:
New Zealand Q2 GDP -0.9% q/q (vs. -0.3% expected) This article was written by Eamonn Sheridan at investinglive.com.Hence then, the article about westpac forecasts 25bp reserve bank of new zealand rate cuts in october and november was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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