RBNZ Signals Slower Easing Ahead After Second Half-Point Cut [Yahoo! Finance]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: Yahoo! Finance
The local dollar jumped. Most Read from Bloomberg New York City's ‘Living Breakwaters' Brace for Stormier Seas In Kansas City, a First-Ever Stadium Designed for Women's Sports Takes the Field NYC's Underground Steam System May Be Key to a Greener Future NYC Gets Historic Push for 80,000 Homes With $5 Billion Pledge The Reserve Bank's Monetary Policy Committee lowered the Official Cash Rate to 4.25% from 4.75% Wednesday in Wellington, as anticipated by 22 of 23 economists in a Bloomberg survey. The RBNZ's new forecasts show the average OCR falling to 3.83% by the middle of next year, suggesting it may move to more gradual rate cuts. “Economic activity in New Zealand remains subdued and output continues to be below its potential,” the RBNZ said. “If economic conditions continue to evolve as projected, the Committee expects to be able to lower the OCR further early next year.” Subscribe to The Bloomberg Australia Podcast on Apple, Spotify, on YouTube, or wherever you list
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