NZ central bank seen slashing rates
Wellington
NEW Zealand's central bank looks set to be forced into more aggressive interest rate cuts to support a flagging economy beset by crumbling dairy prices, sliding sentiment and low inflation.
At least one analyst is predicting that rates may drop by as much as 125 basis points (bps) to a record-low 2 per cent by year-end, highlighting the rapid downturn in fortunes for the agricultural-based economy which only last year was being touted as a "rock star" among developed nations.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
EU, ISSB agree on minimising overlaps in company climate disclosures
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools
US trade deficit narrows slightly in March
Canada posts surprise trade deficit as gold exports fell in March
OECD upgrades global growth outlook as US outperforms