From the FXWW Chatroom: More local talk of RBNZ 50bp cut. Traders say a Reserve Bank interest rate cut next week is a foregone conclusion and a minority are betting the stubbornly high kiwi dollar is a big enough threat to its policy targets to prompt governor Graeme Wheeler to reduce the official cash rate by 50 basis points in one move. http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11687936 Our local economists point out 50bp moves only seen in emergency situations such as response to Canterbury earthquake and during GFC.
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