The Reserve Bank of New Zealand (RBNZ) will likely cut interest rates in November this year, although an early cut cannot be ruled out, ANZ economists have reportedly said.
The central bank left interest rates unchanged earlier today, but surprised markets by changing the language on interest rates to signal that the next move could be to the downside. The NZD, therefore, has tanked across the board with the 10-year government bond yield losing more than ten basis points.
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