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Overall, the lack of dovish overtures, focus...>

RBNZ
RBNZ: Overall, the lack of dovish overtures, focus on the fiscal impact on the
economy and assumed limited impact of Coronavirus (despite a hat tip to the
possibility of deeper effects) is supporting the NZD here, with a notable shift
across the NZ swap curve evident. Swap rates from 2+ Years out sit 4.7-5.3bp
higher on the day as we type. Positive tones re: household consumption also help
put the wind into the NZD's sails.
- The RBNZ stressed that "Monetary policy has time to adjust if needed as more
information becomes available."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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