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VIEW ANZ: Now Look For An August Hike

RBNZ

ANZ note that "the Reserve Bank today announced that its purchases of assets under the LSAP programme would end by 23 July, in a release titled "Monetary Stimulus Reduced". The OCR was left at 0.25% but importantly, the comment that reaching its targets would require "considerable time and patience" was dropped. We are now forecasting the OCR to be lifted by 25bp in August, with CPI and labour market data to provide the final evidence the RBNZ requires."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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