BNZ forecasts an RBNZ rate cut at the March meeting, 25bp

Reserve Bank of New Zealand outlook from BNZ

• BNZ project 25bp cash rate target cut
• Notes a possibility of a further cut in May
• Given what's happening elsewhere its "going to be very difficult for the RBNZ to sit on its hands"
• says no rationale for a more aggressive move (more or earlier than the meeting)