Reserve Bank of New Zealand Governor Hawkesby:
- See near term growth headwinds
- There’s weaker demand and weaker inflation pressures than there were in February
- There are a lot of different ways that this could play out from here
- There is uncertinaty around where those tariffs will land, they could be very different
Reserve Bank of New Zealand Chief Economist Conway
- Probably a little more pessimistic on New Zealand’s medium-term productivity performance
- Inflation expectations have nudged up across the board, which is not ideal
Reserve Bank of New Zealand Assistant Governor Silk:
- Forecasting a modest increase in house prices due to rate cuts
- New Zealand house prices at the top end of our sustainable house price range
NZD/USD is barely moving.
Yesterday the RBNZ cut its cash rate again:
- RBNZ Gov. Hawkesby says decision to hold a rate vote was a healthy sign
- NZD/USD bouncing after the expected RBNZ 25bp cash rate cut
- RBNZ cuts cash rate by 25bp vs. 25bp expected
This article was written by Eamonn Sheridan at www.forexlive.com.
