Home New Zealand’s GDP growth seen slowing in Q2 2019 – Reuters poll
FXStreet News

New Zealand’s GDP growth seen slowing in Q2 2019 – Reuters poll

According to the 12 economists polled by Reuters, New Zealand’s (NZ) economic growth likely slowed in the second quarter of 2019, highlighting the need for further stimulus despite the sharp 50 bps rate cut seen in August.

Key Findings:

“NZ GDP is expected to have slowed 0.4% quarter-on-quarter in the three months to June.

The median forecast from 12 economists polled by Reuters put annual growth at 2.0% in the June quarter, its lowest since 2013, and well below 2.5% posted in the March quarter.

Although the bank is seen likely to keep rates on hold at the next meeting on Sept. 25, several economists expect it will cut rates in November.

A slowing global economy, the escalating Sino-U.S. trade war and warnings of recession have spurred major central banks across the world to ease monetary policy.”

  • NZD/USD technical analysis: At session lows, down for fifth straight day

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.