October 02, 2024 at 12:04AM
Forecasts of a 50bp interest rate cut from the Reserve Bank of New Zealand on October 9 are piling up:
More on BNZ forecasting a 50bp interest rate cut next week from the RBNZ
Here is another forecast for a 50bp interest rate cut from the RBNZ next week
HSBC, too, are calling for a half percent cash rate cut, citing:
Q3 Quarterly Survey of Business Opinion (QSBO) highlighted that excess capacity is persisting and that weak demand is the key concern facing businesses … also showed easing price pressures, with businesses reporting that they are now unable to pass higher input costs on to higher prices
the monthly ‘selected price indices’ – a partial,
timelier read on CPI – point to further disinflation in Q3, with headline CPI inflation likely to be comfortably back in the RBNZ’s 1-3% target band
HSBC acknowledge significant uncertainty around the call.
The rate was cut 50bp at the prior meeting.
This article was written by Eamonn Sheridan at www.forexlive.com.
