ANZ says the Reserve Bank of New Zealand’s 50-basis-point cut to the Official Cash Rate this week represents a front-loading of its earlier easing plans, rather than a shift toward a more aggressive policy stance.The central bank’s balanced tone leaves the door open to a pause or further cuts of either 25 or 50 basis points at the next meeting in November, depending on how incoming data evolve, ANZ wrote.The bank now expects a final 25bp reduction next month, taking the OCR to 2.25%, which it sees as the end of the current easing cycle. Risks remain “on both sides,” ANZ said — weaker data could justify a larger move, but the bar for upside surprises in activity is now relatively low, raising the possibility that the economy could start to outperform modest expectations. This article was written by Eamonn Sheridan at investinglive.com.