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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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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