Reserve Bank of New Zealand Governor Hawkesby sees near term growth headwinds

Reserve Bank of New Zealand Governor Hawkesby:

• See near term growth headwinds
• There's weaker demand and weaker inflation pressures than there were in February
• There are a lot of different ways that this could play out from here
• There is uncertinaty around where those tariffs will land, they could be very different

Reserve Bank of New Zealand Chief Economist Conway

• Probably a little more pessimistic on New Zealand's medium-term productivity performance
• Inflation expectations have nudged up across the board, which is not ideal

Reserve Bank of New Zealand Assistant Governor Silk:

• Forecasting a modest increase in house prices due to rate cuts
• New Zealand house prices at the top end of our sustainable house price range

NZD/USD is barely moving.

Yesterday the RBNZ cut its cash rate again:

• RBNZ Gov. Hawkesby says decision to hold a rate vote was a healthy sign
• NZD/USD bouncing after the expected RBNZ 25bp cash rate cut
• RBNZ cuts cash rate by 25bp vs. 25bp expected

This article was written by Eamonn Sheridan at www.forexlive.com.

from Forexlive RSS Breaking News Feed https://ift.tt/QoBSENj
via IFTTT