Wednesday, 10th July, 2019

This week we discuss the Q2 NZIER Quarterly Survey of Business Opinion which was weaker than we expected – again. We have changed our OCR call and now expect the RBNZ to cut the OCR to 1% by the end of the year. Following the weekend’s strong US payrolls print, the focus for markets will be whether the US Federal Open Market Committee will signal that the Federal Funds rate is likely to head lower, with markets still expecting 2019 Fed rate cuts.

 

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