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RBNZ: 25bp cut likely in the Official Cash Rate in November 2019 - ANZ

Sharon Zollner, chief economist at ANZ, suggests that they have changed their OCR call for RBNZ and are now forecasting a 25bp cut in the Official Cash Rate in November 2019, with a further 50bps of cuts to come over 2020, taking the OCR to 1.0%.

Key Quotes

“There are multiple drivers of this changed call but in short they come down to a weaker outlook for medium-term inflation, risks around global growth and liquidity, and the proposed capital changes for banks. Our view of the New Zealand growth outlook has not materially changed.”

NZ: Q3 GDP rose by 0.3% - Westpac

Michael Gordon, senior economist at Westpac, points out that New Zealand’s GDP rose by 0.3% in the September quarter, less than forecast. Key Quotes
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US 10-year yield hits 8-month low despite hawkish Fed hike

The treasury yields continue to feel the pull of gravity, despite the hawkish Fed rate hike. The 10-year yield is currently trading at 2.755 percent
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