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VIEW: BNZ write "today's ANZ business..........>

RBNZ
RBNZ: VIEW: BNZ write "today's ANZ business opinion survey was the straw that
broke the camel's back. It joins a long list of leading indicators that suggest
growth in New Zealand is likely to slump to levels well below that which the
Reserve Bank is expecting. The RBNZ has already cut interest rates once because
of the risk of a slowdown. We think it will do so again next week and now
concede an August cut is unlikely to be the last. Accordingly, we are now
formally forecasting a further 25 basis point reduction at the Bank's November
meeting taking the OCR down to 1.0%."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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