VIEW: ANZ write "the New Zealand economy has...>

RBNZ: VIEW: ANZ write "the New Zealand economy has been evolving broadly as

expected, but softening near-term indicators have led us to downgrade the

near-term outlook. Economic tailwinds are blowing a little more softly than they

once were, and that's being reflected in waning capacity pressures. We have

brought our OCR cut call forward, with a 25bp cut pencilled in for August

(previously November), and two follow-up moves in November and February. With

the RBNZ now expected to come to the party a little earlier than we previously

thought, it shouldn't be long before the economy gets the stimulus it needs to

push economic activity back into inflation-building territory."