RBNZ unlikely to cut rates in May - BNZ

Spooked by international developments, the Reserve Bank of New Zealand has formally adopted easing bias, but a rate cut in May looks unlikely, according to the Bank of New Zealand (BNZ).

Key quotes

May cut live but unlikely; Chance of hike obliterated.

For the rate cut to be realized global concerns need to rise, the labor market needs to look weaker than RBNZ expectations, and inflationary
pressures should soften. We're not convinced that any (let alone all) of these things will come to pass.