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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.
STIR
RBNZ dated OIS is 1-6bp firmer across meetings after Q2 CPI prints higher than expected at +1.1% q/q (+6.0% y/y) versus expectations of +0.9% (+5.9% y/y) and +1.2% (+6.7% y/y) prior. The Q2 annual rate was the lowest since Q4 2021.
- The quarterly rise was in line with the RBNZ’s forecasts with the annual rate slightly lower.
- Terminal OCR expectations firm to 5.65% from 5.64% yesterday.
Figure 1: RBNZ Dated OIS: Post-CPI Vs. Pre-CPI
Source: MNI – Market News / Bloomberg
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.
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