Economic Weekly: Best foot forward

  • Last week, we updated our interest rate view and we now expect the RBNZ to cut the OCR in May and August, whereas previously we had expected the cuts in August and November.
  • The catalyst for the shift was weaker than expected Q1 business confidence data as indicated by the Quarterly Survey of Business Opinion, which points to a slowing in annual average growth from 2.8% in Q4 to 2.6% in Q1.
  • On the global front this week, we get an update from the ECB on the outlook for the Eurozone economy, while the US Federal Reserve publishes its Meeting Minutes.

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Mark Smith

Senior Economist

Mark joined ASB in 2017, with over 20 years of public and private sector experience working as an economist in New Zealand and the UK.

His resume includes lengthy stints at ANZ and the Reserve Bank of New Zealand, and he has also worked at the Bank of England, HM Treasury and the New Zealand Transport Agency. Mark's areas of specialisation include interest rate strategy, macro-economic analysis and urban economics.

Born and bred in the Waikato, Mark studied at Waikato University where he graduated with a Master of Social Sciences, majoring in Economics.

Mark's key strengths are the ability to use his extensive experience, inquisitive nature, analytical ability, creativity and pragmatism to dig a little deeper and to deliver common sense solutions to tackle complex problems.

When not at work Mark likes to travel, keep fit and spend time with his friends and family.