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MNI RBNZ Review - May 2021: Back On Track

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MNI Point of View:

  • The RBNZ left all of its monetary policy settings unchanged on Wednesday and noted that they anticipate policy tightening over the medium term, which is conditional on the economic outlook unfolding in line with expectations. While everyone expected the justified upgrades to economic forecasts, many seemed caught off guard by the proximity of the return of tightening cycle and its projected pace, as implied by the reinstated OCR track.
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MNI RBNZ Review May 2021.pdf

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