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Economics
4 mins to read

RBNZ could cut from May next year: BNZ

Bank’s chief economist Mike Jones says recent run of data, including yesterday’s unemployment rate, supports an OCR cut earlier than forecast.

WATCH: BNZ chief economist Mike Jones speaks with Jonathan Mitchell.

Key points
  • What's at stake: Whether the Reserve Bank of New Zealand can cut the Official Cash Rate earlier than currently forecast.
  • Background: Unemployment data on Wednesday rose to 3.9% in the September quarter, up on the 3.6% rate recorded in June and above the RBNZ's August projections.
  • Main players: Stats NZ, RBNZ, Adrian Orr, BNZ chief economist Mike Jones.

The RBNZ could assess a rate cut much earlier than currently forecast, according to BNZ chief economist Mike Jones, with inflation and unemployment heading in the desired direction.

Stats NZ data out yesterday showed unemployment hitting 3.9% in the September quarter. That’s above 3.6% recorded in

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Contact the Writer: jmitchell@nbr.co.nz
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Key points
  • What's at stake: Whether the Reserve Bank of New Zealand can cut the Official Cash Rate earlier than currently forecast.
  • Background: Unemployment data on Wednesday rose to 3.9% in the September quarter, up on the 3.6% rate recorded in June and above the RBNZ's August projections.
  • Main players: Stats NZ, RBNZ, Adrian Orr, BNZ chief economist Mike Jones.
RBNZ could cut from May next year: BNZ
Economics,
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