Lates News

The Reserve Bank of New Zealand appears to be further lowering the benchmark interest rate next week, while economists are mainly focused on the Reserve Bank's future expectations. ANZ Bank's Chief Economist Sharon Zollner said that reducing the benchmark interest rate by 25 basis points to 3.00% seems like a done deal. With weak high-frequency data increasingly reflected in the hard economic data, the Reserve Bank of New Zealand's stance may become more dovish and eventually lower the benchmark interest rate to 2.5%. However, Zollner also noted that it may be too early to make a significant shift in that direction next week.