NZD: Market consensus point towards 25bps cut in cash rate by RBNZ - BBH
8 December 2015, 06:48
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Research Team at BBH, notes that a Bloomberg survey found 15 of 18
economists expect the RBNZ to cut the cash rate by 25 bp, bringing it to
2.50%.
Key Quotes
“The vast majority expect this to be the last cut in the cycle. We suspect there is a greater chance than suggested by the survey that the central bank stands pat. Ideas that the RBA's neutral stance, the small move by the ECB, and increased confidence of a Fed hike may steady the RBNZ's hand helped spur almost a 1% rise in the New Zealand dollar before the weekend.”
Key Quotes
“The vast majority expect this to be the last cut in the cycle. We suspect there is a greater chance than suggested by the survey that the central bank stands pat. Ideas that the RBA's neutral stance, the small move by the ECB, and increased confidence of a Fed hike may steady the RBNZ's hand helped spur almost a 1% rise in the New Zealand dollar before the weekend.”
