A change in forecast timing for the next Reserve Bank of New Zealand interest rate cut from WPAC
- 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
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