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* CORRECTION - RBNZ Dated OIS Prices 65bps Of Cuts By Year-End

STIR

RBNZ dated OIS pricing is little changed across meetings, after today’s Q2 CPI data.

  • Nevertheless, OIS pricing sits 18-44bps softer for meetings beyond August versus pre-RBNZ Decision levels.
  • By year-end, a cumulative 65bps of easing is factored into the pricing.


Figure 1: RBNZ Dated OIS Post-RBNZ Versus Pre-RBNZ Levels (%)



Source: MNI – Market News / Bloomberg

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