Sharon Zollner, chief economist at ANZ, points out that contrary to analyst and market expectations, the RBNZ left the OCR unchanged at 1.0% today, despite significantly lowering the near-term growth outlook. Key Quotes “The forecast OCR track was all but unchanged, with a low of 0.90% hinting at further action if required.” “We expect the RBNZ will continue to be disappointed on the growth front, but they have made a meaningful downward revision to their estimate of the economy’s speed limit. This makes future aggressive action less likely.” “We are now forecasting two further cuts in May and August next year, taking the OCR to 0.5%. The risks around this forecast are tilted towards earlier and/or more cuts, depending partly on the outcome of the RBNZ’s capital proposals.” 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. View All Post By FX Street FXStreet News share Read Next Dovish BOJ expectations fall sharply – Reuters poll FX Street 3 years Sharon Zollner, chief economist at ANZ, points out that contrary to analyst and market expectations, the RBNZ left the OCR unchanged at 1.0% today, despite significantly lowering the near-term growth outlook. Key Quotes "The forecast OCR track was all but unchanged, with a low of 0.90% hinting at further action if required." "We expect the RBNZ will continue to be disappointed on the growth front, but they have made a meaningful downward revision to their estimate of the economy's speed limit. This makes future aggressive action less likely." "We are now forecasting two further cuts in May and August next… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
