February 19, 2025 22:24 GMT
STIR: RBNZ Dated OIS Pricing Modestly Firmer Than Pre-RBNZ Decision Levels
STIR
RBNZ-dated OIS pricing is little changed across meetings today, holding flat to 4bps firmer than yesterday’s pre-RBNZ policy decision levels.
- The widely expected 50bp rate cut to 3.75% was largely priced in, with markets having anticipated 49bps of the move.
- Currently, 27bps of easing is priced for April, with a total of 60bps expected by November 2025.
Figure 1: RBNZ Dated OIS Today vs. Pre-RBNZ (%)
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Source: MNI – Market News / Bloomberg
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