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NZ Economic Bulletin: OCR to be cut 50bps in both October and November
We now expect the RBNZ to cut the OCR by 50bps to 4.75% at the October Monetary Policy Review. • We also expect another 50bps cut to 4.25% at the November Monetary Policy Statement. • The projected step up in the pace of easing in October is a more finely balanced decision (perhaps a 60% probability) whereas the probability of a larger easing in November looks much higher. • The inflation outlook now looks set to settle close to 2% from Q3 2024 and gives the RBNZ more room to move more quickly back to neutral settings. • We continue to see the terminal OCR at 3.75% - the cuts expected by Christmas merely ... (full story)
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- Posted: Oct 1, 2024 11:10pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,654
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