A hawk and a dove at the same time. The RBNZ cuts 25
If you just read the statement, the RBNZ’s easing bias was strengthened. The economic forecasts were lowered, and another 25bp rate cut was inserted into the OCR track. But if you listened to the press conference or noted the dissenting 5-1 vote, the RBNZ’s top brass were crystal clear in their clouded uncertainty.
So how do we make sense of it? Where to from here? And, how have markets responded? We cover it all. The key takeaway: more rate cuts are coming.
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