Westpac have pushed back their RBNZ rate cut forecast to June (from March)
A change in forecast timing for the next Reserve Bank of New Zealand interest rate cut from WPAC
Also:
- Looking for a Fonterra dairy payout figure of $4.50/kgms (NZD) next season (around $4 this season). Detailed revised forecasts will be out next week
- Were at $5.20 for next season
Citing the further falls in this week's dairy auction
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Earlier this week governor Wheeler said he wanted to see more data before deciding on the bank's next move. The very, very weak NZ CPI last week was prompting a few to bring forward their expectations for a cut, but Wheeler tipped a bucket of cold water on this too, saying low inflation alone wasn't enough to bring forward a cut. We'll soon see what the government thinks about that (tee hee).
Added - WPAC also citing strong labour market & housing data
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
