Goldies with chapter and verse on the RBNZ
Goldman Sachs expect 3 rate cuts of 25bp apiece in Aug, Nov and Mar. Their reasoning;
"In a scheduled "Economic Update" published on Thursday, the RBNZ signalled a significant strengthening in its easing bias, and dovish shift across its views on domestic inflation and domestic/global growth. At the heart of many of these changes is renewed concern about the elevated NZD. In our view, these changes make clear that the RBNZ is positioning for a deeper easing cycle, notwithstanding ongoing risks to financial stability from rising house prices."
RBNZ to hit a hattrick of rate cuts and NZDUSD to plummet says Goldman Sachs
