According to Jinshi, all analysts surveyed by Reuters predict that the Reserve Bank of New Zealand will keep the benchmark interest rate unchanged at 5.50% next Wednesday. ANZ Bank, ASB Bank of New Zealand and Westpac Bank expect that there will be no change in the central bank's interest rate before next year. However, KBank and Bank of New Zealand expect the central bank to cut interest rates for the first time in the fourth quarter of this year. Jarrod Kerr, chief economist of KBank, said that although there is a dilemma about the start date of the interest rate cut (November or February next year), the direction is very clear. Interest rates will be lowered next year, which will help rebalance the economy and rebound asset markets, especially the housing market.
