The decent near-term outlook for GDP growth and the robust housing market will offset any concerns about low underlying inflation and prompt the Reserve Bank of New Zealand (RBNZ) to leave interest rates on hold at 3.50% (22.00 BST Wednesday). Capital Economics said – “There is a chance that the RBNZ may drop its current neutral stance in favour of a bias towards looser policy. That would support our view that rates will be cut before end-2015.”
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