RBNZ to remain on hold until mid-2020 – Westpac

The Reserve Bank of New Zealand (RBNZ) will likely stand pat until the middle of the next year, according to Westpac economists.

The investment bank had previously forecasted an interest rate cut in 2020.  

The RBNZ cut the interest rates by 25 basis points to a new record low of 1.5% earlier this week, bringing the borrowing cost at par with the Australian benchmark interest rate.