RBNZ to cut rates one more time in 2020 – ASB

The Reserve Bank of New Zealand (RBNZ) will deliver just one rate cut in 2020, possibly in May, according to ASB bank. 

The RBNZ's officil rate currently stands at 1%.The central bank cut rates by 50 basis points in August and has maintained the status quo ever since. 

The ASB bank had previously forecasted two rate cuts for 2020. 

So far, ASB's latest forecast has failed to bolster the bid tone around NZD/USD. The Kiwi is currently trading at 0.6425, representing moderate gains on the day.