New Zealand's central bank is expected to hold interest rates steady on Wed...
WELLINGTON - New Zealand’s central bank is expected to hold interest rates steady on Wednesday, but keep the door open for further easing to support growth in the face of slowing external demand and broadening global pressure from a heated Sino-U.S. trade war.
However, RBNZ Governor Adrian Orr isn’t expected to hold fire for too long, with most economists predicting a second cut in borrowing costs at the next rates review in August - a dovish shift in monetary policy that many global central banks have embraced recently to fight trade and growth pressure. “We believe that the current stimulus will not be enough to bring core inflation back to target. The RBNZ will therefore have to lower rates again before the year is out,” analysts at Capital Economics wrote in a note to clients.
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