According to Jin Ten data reports, the Reserve Bank of New Zealand's research director Stephen Toplis stated that the current uncertainty in the economic outlook is largely due to the fluctuations in President Trump's tariff policies. Toplis pointed out that the net impact of these policies on global economic growth is negative, and they also have adverse effects on the New Zealand economy.
Toplis believes that the Reserve Bank of New Zealand has reason to lower growth expectations and cut interest rates by 25 basis points on May 28, while hinting at the possibility of further cuts.