Westpac changed their call on New Zealand interest rates on Thursday, saying they now expect the Reserve Bank of New Zealand (RBNZ) to cut rates to -0.5% by April next year.
The bank had previously forecast RBNZ to cut rates to -0.5% by November.
RBNZ's quantitative easing programme will be expanded to NZ$70 billion ($43 billion) at the June official cash rate review, Westpac Chief Economist Dominick Stephens said.
($1 = 1.6276 New Zealand dollars)
(Reporting by Praveen Menon; Editing by Chris Reese)
