RBNZ reduces OCR to 3.75 %, indicating more anterior loaded dilution. We see 50 -bit per second of the Q2 (25 bits per second), and 25 bitules per second in the Q3 (unchanged), a pause in the Q4 (25 bits per second previously). The output gap deteriorates sharply, enhancing the issue for further mitigation in 2025.
‘Orrchestrate reduced
“The Reserve Bank in New Zealand (RBNZ) delivered 50 -bit discounts per second on a large scale, and thus the official money price (OCR) decreased to 3.75 %, in line with our expectations and previous front RBNZ directions. The light recognition course on updated letters, which now indicates indicates To a faster path towards the middle of the neutral (3 %) by the end of the year, by 3.1 %, Compared to the previous projection 3.6 % in November.
“Inflation forecasts reflect the different trends between commercial and non -material materials. Oil prices And the inception of commercial, while it is expected to reduce unnecessary inflation due to the soft domestic demand and the labor labor market. Growth expectations remain weak, as the output gap expides to negative lands. We believe that the market reaction has been measured, as the loaded mitigation has already been priced. “
“While we maintain our 3 % peripheral average expectations by the end of the year, we are setting our expectations so far in a 25-bit per second reduction in Q2, up to End-Q2 expectations to 3.25 % (compared to 3.50 % before). No. It is removed without changing at 25 bits per second, raising OCR to 3.00 % (compared to 3.25 % before), followed Reducing if growth weakens more or slows down the path if inflation proves more stable. “
2025-02-19 11:37:51