Reserve Bank of New Zealand rate cut next week, 97% chance of a 50 basis points

All the previews I have been posting of the upcoming Reserve Bank of New Zealand meeting, on October 9, are exp[ecting a 50bp rate cut:

The latest Reuters poll (conducted September 30 – October 3) shows:

  • 17 of 28 expect the RBNZ to cut its official cash rate by 50 basis points to 4.75%
  • remaining 11 predicted a 25 basis point cut

Interest rate futures, meanwhile, are pricing in around a 97% chance of a 50 basis points next week, and over 90 basis points of cuts by the end of this year.

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