Free Trial

###POV: RBNZ TO REITERATE NEUTRAL BIAS - The...>

RBNZ
RBNZ: ###POV: RBNZ TO REITERATE NEUTRAL BIAS
- The RBNZ is widely expected to keep its OCR unchanged at 1.75% on Thursday,
with focus on the accompanying statement for future guidance.
- Despite the NZ Q3 labour market report & GDP data outperforming the RBNZ's
forecasts, downside growth risks remain.
- With business confidence & investment continuing to hold at extremely low
levels, the RBNZ is likely to take a cautious approach, re-affirming forward
guidance that the next move in the OCR may be up or down.
- Neutral view - RBNZ delivers balanced statement, highlights downside growth
risks, direction of the next OCR move could be up or down.
- Hawkish risk - Focus on recent strong domestic GDP/jobs data, bring forward
OCR rate path projection.
Dovish risk - Note softer commodities, rising fuel prices & weaker global
outlook. Push out OCR rate hikes further. 

To read the full story

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.