RBNZ Wheeler: Market forecasts see one further cut

FXStreet (Bali) - The Reserve Bank of New Zealand's Governor Wheeler, in his press conference after the monetary policy decision, said market forecasts see one further rate cut.

Additional headlines from RBNZ Wheeler

Demand growth decelerating in next 12-18 mths

Signalled that bank had been considering rate cut for past few months

Jun 11, 2015

NZD/USD tumbles to fresh lows, RBNZ rate cut weighs

NZD/USD is down almost 2 cents, having printed marginal new lows at 0.7015, following the RBNZ unexpected decision to cut rates by 25b to 3.25%, while leaving the door open to ease further.

RBNZ surprises the market, signals a follow up 25bp cut - Westpac

Imre Speizer, FX Strategist at Westpac, notes how the RBNZ, by cutting the OCR by 25bp to 3.25%, surprised the market, which had earlier priced in only a 44% chance of a cut. Speizer adds that the press release placed much weight on the fall in dairy prices.