RBNZ Assistant Governor cements rate cut expectations - BNPP

Research Team at BNP Paribas, notes that the RBNZ Assistant Governor McDermott reiterated that further easing will likely be required.

Key Quotes

“NZD rates markets now price around an 80% chance of a 25bp cut at the 10 November meeting. McDermott also stated that Q3 inflation, released 18 October, was likely to be low which would cement the case for another rate cut.”