{"id":36253,"date":"2025-09-22T07:24:06","date_gmt":"2025-09-22T07:24:06","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/36253\/"},"modified":"2025-09-22T07:24:06","modified_gmt":"2025-09-22T07:24:06","slug":"kiwibank-rbnz-to-cut-75bp-by-year-end-economy-not-recovering-from-recession","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/36253\/","title":{"rendered":"KiwiBank: RBNZ to cut 75bp by year-end, economy not recovering from recession"},"content":{"rendered":"<p data-start=\"64\" data-end=\"396\" data-v-4026719d=\"\">KiwiBank has shifted its monetary policy call, now forecasting a larger 50 basis point cut by the Reserve Bank of New Zealand in October, followed by a further 25bp reduction in November. That would take the cash rate to 2.25% by year-end, with economists citing the economy\u2019s failure to recover from last year\u2019s severe recession.<\/p>\n<p>\u201cWe now expect a 50bps cut in October, followed by a 25bps cut in November,\u201d the bank said, adding that the data made it \u201ccrystal clear that the Kiwi economy is not recovering.\u201d KiwiBank said further easing to 2% may be needed, depending on how activity evolves over summer, estimating a 50\/50 chance of additional support.<\/p>\n<p data-start=\"725\" data-end=\"996\" data-v-4026719d=\"\">The bank pointed to broad-based weakness in the latest GDP release, with 10 of 16 industries contracting, calling it \u201csimply not what you\u2019d expect a year after the severe recession.\u201d It argued the RBNZ should keep its \u201cfoot firmly on the accelerator\u201d to bolster growth. <\/p>\n<p data-start=\"725\" data-end=\"996\" data-v-4026719d=\"\">&#8212;<\/p>\n<p data-start=\"725\" data-end=\"996\" data-v-4026719d=\"\">KiwiBank\u2019s call highlights rising pressure on the RBNZ to act quickly as growth falters. A larger October move and follow-up November cut would mark a sharper easing path, with risks of further support to 2% if weakness persists.<\/p>\n","protected":false},"excerpt":{"rendered":"KiwiBank has shifted its monetary policy call, now forecasting a larger 50 basis point cut by the Reserve&hellip;\n","protected":false},"author":2,"featured_media":36254,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,33589,111,139,69],"class_list":["post-36253","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-kiwibank-revises-rbnz-outlook","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/36253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=36253"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/36253\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/36254"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=36253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=36253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=36253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}