Reserve Bank of New Zealand now expected to slow down its rate cut pace ...Middle East

In a note to clients, economists at Wells Fargo said the move reflects a mix of softening price and wage pressures and signs of stabilisation in the broader economy. The bank expects the RBNZ to continue easing, though in a measured fashion.

Wells Fargo’s outlook suggests the RBNZ is entering a phase of cautious normalisation, balancing inflation risks with the need to support a still-fragile recovery.

ICYMI:

RBNZ assistant governor silk: China’s low domestic consumption is a key issueReserve Bank of New Zealand Governor Hawkesby sees near term growth headwindsRBNZ Gov. Hawkesby says decision to hold a rate vote was a healthy signNZD/USD bouncing after the expected RBNZ 25bp cash rate cutRBNZ cuts cash rate by 25bp vs. 25bp expected

This graph from the RBNZ, note its not yet updated for yesterday's cut.

This article was written by Eamonn Sheridan at www.forexlive.com.

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