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RBNZ Rate Cut Wagers Leave New Zealand Dollar Eyeing 2022 Low
The New Zealand dollar is forecast to weaken around 6% in the coming months as a slowing economy prompts investors to price in aggressive interest rate cuts from the nation’s central bank. The currency weakened to a one-year low versus the dollar last week as the Reserve Bank of New Zealand’s downbeat view of the economy and concern over the impact of potential tariffs under Donald Trump’s administration spurred traders to bet on large rate cuts. The swaps market is pricing in a 50-basis-point cut this week, with some seeing a small chance of a 75-basis-point reduction. “This isn’t going to offer the New ... (full story)
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- Posted: Nov 24, 2024 8:47pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 4,178
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