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11 Aug 2016
RBNZ: Cut rates by 25bps to 2.00% as expected
Following are the key headlines from RBNZ monetary policy announcement crossing the wires via Reuters, following the expected rate cut by 25bps:
- RBNZ sees 90-day bank bill avg 2.1 pct dec 2016 (pvs 2.2 pct)
- Says further policy easing may be needed
- Sees 90-day bank bill avg 2.0 pct march 2017 (pvs 2.2 pct)
- Monetary policy to remain accommodative
- Sees 90-day bank bill avg 1.8pct june 2017 (pvs 2.1 pct)
- RBNZ says closely watching economic data
- Sees annual cpi +1.0pct dec 2016 (pvs +1.3 pct)
- Says a decline in NZD is needed
- Sees twi nzd at around 75.9 by dec 2016