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16 Jul 2015
Chances of a rate cut by the RBNZ grow bigger – UOB Group
FXStreet (Edinburgh) - Analysts at UOB Group see the RBNZ lowering further its refi rate at next week’s meeting.
Key Quotes
“Markets felt that the Reserve Bank of New Zealand looks poised to cut interest rates next week after dairy prices slumped to a fresh six-year low at auction yesterday (15 Jul) amid a global milk glut and waning demand from China”.
“RBNZ Governor Graeme Wheeler has said that weaker prospects for dairy prices will curb farm incomes and delay inflation returning to his 2% target”.
“The kiwi dollar fell to a fresh 5 year low on the speculation of impending RBNZ rate cut”.
Key Quotes
“Markets felt that the Reserve Bank of New Zealand looks poised to cut interest rates next week after dairy prices slumped to a fresh six-year low at auction yesterday (15 Jul) amid a global milk glut and waning demand from China”.
“RBNZ Governor Graeme Wheeler has said that weaker prospects for dairy prices will curb farm incomes and delay inflation returning to his 2% target”.
“The kiwi dollar fell to a fresh 5 year low on the speculation of impending RBNZ rate cut”.