NZ Trade Balance: NZD -1565m (vs expected -1400m)

NZ Trade Balance

• Aug -1.565 bln (estimates (est) -1.400 bln; prev -0.685 bln).
• Exports (nzd) 4.13 bln (est 4.10 bln; prev 5.03 bln).
• Imports (nzd) 5.69 bln (est 5.58 bln; prev 5.71 bln).
• Trade balance 12-m YTD (nzd) Aug -5.484 bln (est -5.400 bln; prev -5.463 bln).

RBNZ main event

Meanwhile, "markets price only a small risk of the RBNZ following up its shock -50bp rate cut with another -25bp today (12pm Syd/10am Sing/HK). Far more likely is a steady hand at 1.0% though the brief statement should leave open the possibility of further easing. Our base case is -25bp on 13 November," analysts at Westpac explained. 

About the Trace Balance

Trade balance, released by Statistics New Zealand, is the difference between the value of country's exports and imports, over a period of year. A positive balance means that exports exceed imports, a negative ones means the opposite. Positive trade balance illustrates high competitiveness of country's economy