February 19, 2025 01:11 GMT
RBNZ: Updated RBNZ OCR Projections
RBNZ
Updated RBNZ projections from the central bank - not greatly different from what was priced by the market pre RBNZ this morning (at least for this year). Still, local swap rates and bond yields are lower. OIS is broadly unchanged so far, post the decision.
Table 1: RBNZ OCR Projections Today Versus Prior, And Market Pricing (Prior To Today's Policy Announcement).
RBNZ OCR (Latest) | RBNZ OCR (Nov 2024) | Market Pricing (Prior To RBNZ) | |
Mar 2025 | 4.0 | 4.1 | 3.77 (Feb 25) |
June 2025 | 3.4 | 3.8 | 3.31 (May 25) |
Sep 2025 | 3.2 | 3.7 | 3.13 (Aug 25) |
Dec 2025 | 3.1 | 3.6 | 3.10 (Nov 25) |
Mar 2026 | 3.1 | 3.4 | |
June 2026 | 3.1 | 3.3 | |
Sep 2026 | 3.1 | 3.2 | |
Dec 2026 | 3.1 | 3.2 | |
Mar 2027 | 3.1 | 3.1 | |
Jun 2027 | 3.1 | 3.1 | |
Sep 2027 | 3.1 | 3.1 | |
Dec 2027 | 3.1 | 3.1 |
Source: MNI - Market News/RBNZ/Bloomberg
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