The most important of the RBNZ report



The National Bank of New Zealand cut interest rates from 1.70% to 1.50%, which was also expected.

Here is the most important of the bank's report, which led to the final decision on interest rate cuts:

  • The Commission has reached an overall consensus on the decision to reduce interest rates
  • The Commission has agreed on long-term low interest rates policy and considered that there are already conditions for its maintenance
  • Members of the commission have reached agreement on the basis of weak domestic consumption, counter-winds in the labor market and low growth forecasts. The Committee has recognized the need for additional monetary incentives
  • Key risks have had a stronger impact than originally assumed. The risks are mostly around China and Australia
  • Regarding the balance, the Committee has expressed its concern rather about the prolonged slowdown in the world economy
  • The Committee has reached agreement on the labor market - it is more depressed, with the expectation that it will weaken as early as 2019
  • The risks to inflation are balanced
  • Expectations for inflation are still realistic

 Jr Trader Martin Nikolov

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