Survey: The New Zealand Reserve Bank may cut interest rates twice more this year to 2.50%.

Jin10 data August 22 news, a Reuters survey shows that most economists believe the Reserve Bank of New Zealand may cut interest rates two more times this year to 2.50%. The Reserve Bank of New Zealand's rate cut this Wednesday aligns with economists' and financial markets' expectations, but the unexpected downward revision of the official cash rate (OCR) path and two votes in favor of a larger cut of 50 basis points prompted economists to revise their outlook. Over 75% of the surveyed economists (13 out of 17 economists) predict a 50 basis point cut this year, while a pre-meeting survey showed that economists had two views, one being no further cuts, and the other being just another cut of 25 basis points. Four economists believe there will be a slight adjustment to 2.75%. Nearly 90% of economists (15 out of 17 economists) expect a 25 basis point cut at the next meeting on October 8. Two expect no change.