Goldman Sachs: Risk still favors further rate cuts from the Reserve Bank of New Zealand.

Gold Ten Data on February 5th, Goldman Sachs Chief Economist Andrew Boeyak said that from a policy perspective, data showed that New Zealand’s unemployment rate reached a four-year high of 5.1%, which once again indicated that the Reserve Bank of New Zealand will continue to cut interest rates in the first half of the year, including another 50 basis points at the policy meeting later this month. It is expected that the Reserve Bank of New Zealand will slow down the rate of interest rate cuts to 25 basis points per meeting starting in April, and the official cash rate will reach 3.0% in July. However, if the improvement in recent survey data cannot translate into economic improvement, there is a risk of faster and larger interest rate cuts.