BNZ on their outlook for the Reserve Bank of New Zealand:
- while we see the first OCR
cut in November, we reiterate that we wouldn’t rule out
an earlier start to OCR cuts including at the Bank’s August
meeting which we see as live. - We continue to believe that
easier monetary conditions are required.
BNZ see a material reduction in the OCR over the coming year or two citing:
- struggling economic activity
- a trend softening
in the labour market - associated receding
inflationary pressure
RBNZ meet next week
This article was written by Eamonn Sheridan at www.forexlive.com. Source