New Zealand - RBNZ will cut further, but not until next year

The economic data have been better than the Bank anticipated in their last set of forecasts in August so we suspect the Reserve Bank of New Zealand (RBNZ) will leave rates on hold at its meeting on Wednesday 13th November. But we suspect the economy will deteriorate further in the coming quarters causing the Bank to cut rates to 0.5% by the middle of next year.

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