015-09-09 00:00 Westpac comments on the Reserve Bank of New Zealand decisions todayA very quick response from Imre Speizer at Wpac NZ.In brief (bolding is mine)The RBNZ's Monetary Policy Statement this morning cut the OCR by 25bp to 2.75% as was widely expectedAlso signalled the OCR could eventually fall to 2.5%, which many had expectedThe crucial policy paragraph read: "A reduction in the OCR is warranted by the softening in the economy and the need to keep future average CPI inflation near the 2 percent target midpoint. At this stage, some further easing in the OCR seems likely. This will depend on the emerging flow of economic data." The previous warning about the high NZD exchange rate was repeated, albeit toned down given the large fall since JuneSource link:
http://news.forexlive.com/!/rbnz---analyst-responses-20150909
