- RBNZ’s Silk: Rate cut of either 25 bp or 50 bp will be on the table for Feb
Market news
28 November 2024
RBNZ’s Silk: Rate cut of either 25 bp or 50 bp will be on the table for Feb
“Rate cut of either 25 bp or 50 bp will be on the table for Feb,” Reserve Bank of New Zealand (RBNZ) Assistant Governor Karen Silk said in an interview with Reuters on Thursday.
Additional quotes
Everything was on the table this week, but the committee reached a consensus on a 50 bp cut very quickly.
Did not feel the need to do more than 50 bp because there is still work to do on domestic inflation.
Expects tradeable inflation to pick up, so need non-tradeable inflation to come down.
Have to make sure core inflation is sustainably at target mid-point.
Market reaction
NZD/USD is less impressed by these comments, losing 0.06% on the day to trade at 0.5890 at press time.
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