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Australia and New Zealand Bank’s analysts suggest that next Wednesday, they are expecting the RBNZ to cut the OCR 25bps to 1.25% and leave the door open to more.

Key Quotes

“The RBNZ said in June that a lower OCR “was likely to be necessary” and that risks were “tilted to the downside”. Data since then has confirmed this.”

“We are forecasting a further OCR cut in November, with the risks rapidly tilting towards another next year should the economy fail to recover its mojo.”