The RBNZ took a surprising dovish turn when it left the official cash rate on hold at 1.75% today, indicating that the next move is likely down. Given that we are more downbeat about the outlook for GDP growth than the Ban, we think the Bank is likely to cut rates this year, possibly as soon as May.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services