In a word, yes, NZ interest rates are likely to fall further. Here’s why:
NZ’s term deposit rate is much higher than in similar developed countries, including Australia, the UK, and Sweden. The Deputy of the Reserve Bank of New Zealand (RBNZ) recently cited this as a reason the RBNZ had to do more to bring the interest rates down.
The RBNZ is NZ’s central bank. Central bankers...
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