NZ central bank chief flags two mores cuts by Christmas, more in 2025
WELLINGTON - New Zealand’s central bank governor Adrian Orr on Friday raised the distinct prospect of cutting rates another 50 basis points by year-end, saying"I would love to be delivering that" in explicit comments setting the course for decisive policy easing.
“There's two more opportunities for two more cuts between now and Christmas and all things going accordingly with the data and what we're talking about, then I would love to be delivering that,” he said. A Reuters snap poll released on Thursday, found the majority of economists expect the central bank to cut rates by 50 basis points by the end of the year.
“We've got high frequency indicators that are a lot weaker, and it's not one. They've been mixed signals out of that previously but now it's all kind of pointing to weaker activity in the economy and weaker than we anticipated it,” Silk said.
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