Singapore Gross Domestic Product (YoY) declined to 1.4% in 3Q from previous 1.8%

Mark Smith, Senior Economist at ANZ, reviews the latest speech by RBNZ Governor Wheeler this morning, entitled “Some Reflections on the World of Central Banking”, noting that the message appears consistent with their broad view that while the OCR is probably heading lower in time, the next cut is not likely to occur at the next meeting.