RBNZ Likely to Be Most Aggressive Rate-Cutting Central Bank, at Least for Now, UOB Says -- Market Talk

Dow Jones
2024/11/25

0341 GMT - The Reserve Bank of New Zealand is likely to be the most aggressive rate-cutting central bank, at least for now, says Lee Sue Ann, economist at UOB's Global Economics & Markets Research, in a research report. Since August, the RBNZ has cut rates by 75 bps in only two meetings and economic data following the October meeting has worsened, the economist notes. Even though annual pace of New Zealand's inflation is now back in the RBNZ's target band, unemployment has risen to a four-year high and the economy contracted, the economist adds. UOB now expects the RBNZ to cut its policy rate by 50 bps to 4.25% at Wednesday's meeting. (ronnie.harui@wsj.com)

 

(END) Dow Jones Newswires

November 24, 2024 22:41 ET (03:41 GMT)

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