Reserve Bank of New Zealand has cut its Offical Cash Rate by 25 bps. Market pricing had tipped this, while most analyst did not.
Added - a few tech gremlins have beset me ... I've posted all the statement and minutes main points separately, here:
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Background on this:
- RBNZ monetary policy meeting - Reuters poll is not clear cut, 19 say hold, 12 say 25bp cut
- ANZ forecast the RBNZ to remain on hold next week, signal a rate cut later in the year
- NZD traders - Westpac forecasts the RBNZ to cut by 25bps in October and November 2024
![Reserve Bank of New Zealand rbnz 17 July 2024 2](https://images.forexlive.com/images/Reserve%20Bank%20of%20New%20Zealand%20rbnz%2017%20July%202024_id_069e948e-8380-4007-ab7d-ff623d8f0c00_original.jpg)