Forecasts of a 50bp interest rate cut from the Reserve Bank of New Zealand on October 9 are piling up:
More on BNZ forecasting a 50bp interest rate cut next week from the RBNZ
Here is another forecast for a 50bp interest rate cut from the RBNZ next week
HSBC, too, are calling for a half percent cash rate cut, citing:
- Q3 Quarterly Survey of Business Opinion (QSBO) highlighted that excess capacity is persisting and that weak demand is the key concern facing businesses ... also showed easing price pressures, with businesses reporting that they are now unable to pass higher input costs on to higher prices
- the monthly ‘selected price indices’ – a partial, timelier read on CPI – point to further disinflation in Q3, with headline CPI inflation likely to be comfortably back in the RBNZ’s 1-3% target band
HSBC acknowledge significant uncertainty around the call.
The rate was cut 50bp at the prior meeting.
