The Reserve Bank of New Zealand is expected to cut its official cash rate (OCR) target by 50bp today, from 4.25% to 3.75%:
the Reuters survey last week, February 10-13 showed 32 out of 33 expect 50 while 1 expects a 25bp rate cutAt its previous meeting, back in November of 2024, the RBNZ indicated it was still on a rate cutting path. Since then we've had Q4 inflation data with the headline well within the bank's 2 to 3% target range:
Yesterday we had the Reserve Bank of Australia cut its cash rate by 25bp, from 4.35% to 4.1%
ForexLive Asia-Pacific FX news wrap: RBA cuts rates for the first time in four yearsA 50bp cut from the RBNZ will drag the Bank's cash rate back under the RBA's and will be a negative for NZD against the AUD, at the margin.
The Reserve Bank of New Zealand (RBNZ) statement is due at 2pm NZ time:
0100 GMT2000 US Eastern timeRecent inflation expectations data from the RBNZ are of little concern.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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