Goldman Sachs expects a 50bp Reserve Bank of New Zealand rate cut this month

I posted earlier on Goldman Sachs and the Reserve Bank of Australia:

• Goldman Sachs lower its forecast for Australia’s economic growth in 2025 on Trump vs China
• forecasts a 25bp interest rate cut from the Reserve Bank of Australia in February 2025

As for the Reserve Bank of New Zealand, Goldman Sachs expects two more 50bp rate cuts to make it three in a row:

• a 50bp rate cut from the Bank on November 27
• another 50bp rate cut from the Bank at its following meeting, February 19, 2025
• terminal rate of 3% in July 2025 forecast, achieved by 25bp rate cuts at each meeting after February