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RBNZ Dated OIS Softer After RBNZ Holds Policy Steady


RBNZ dated OIS is 1-7bp softer across meetings, May’24 leading, after the RBNZ decides to leave the cash rate unchanged at 5.50%. The market had given a 25bp hike today a 10% chance.

  • Terminal OCR expectations have softened to 5.65% versus 5.81% at the start of the week and 5.67% on Friday.

Figure 1: RBNZ Dated OIS Terminal Rate Pricing (%)

Source: MNI – Market News / Bloomberg

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