RBNZ Review: OCR reduced by 50bps to 2.5%, as expected

As we expected, the RBNZ cut the OCR by 50bps to 2.50%. The decision was reached by consensus, with no vote required. The Bank’s commentary suggests further easing is likely in November reflecting significant excess capacity pushing down medium-term inflation. Westpac expects a 25bp cut at the 26 November MPS meeting. Further cuts beyond November […]

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