July 17, 2024 04:41 GMT
* 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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