All the previews I have been posting of the upcoming Reserve Bank of New Zealand meeting, on October 9, are exp[ecting a 50bp rate cut:
RBNZ preview – most likely cut the cash rate by 50bps next week, and again in NovemberANZ say the path of least resistance for the RBNZ is a 50bp interest rate cut next weekMore on BNZ forecasting a 50bp interest rate cut next week from the RBNZHere is another forecast for a 50bp interest rate cut from the RBNZ next weekHSBC expect a 50bp interest rate cut from the Reserve Bank of New Zealand next week100bp of rate cuts coming up from the Reserve Bank of New Zealand, beginning next week
The latest Reuters poll (conducted September 30 – October 3) shows:
17 of 28 expect the RBNZ to cut its official cash rate by 50 basis points to 4.75%remaining 11 predicted a 25 basis point cut
Interest rate futures, meanwhile, are pricing in around a 97% chance of a 50 basis points next week, and over 90 basis points of cuts by the end of this year.
This article was written by Eamonn Sheridan at www.forexlive.com.
