Free Trial

VIEW: ANZ Temper RBNZ Easing Call

RBNZ

ANZ note that they "now expect the RBNZ to cut the OCR only one more time, with a -15bp tweak to 0.10% at the May Monetary Policy Statement. This further cut may not prove necessary, but as things stand it makes strategic sense. If the housing market and domestic economy maintains momentum well into autumn, the RBNZ will not cut again at all. If COVID-19 returns to our shores in a significant way, a negative OCR will once more be game on. We expect the RBNZ to maintain a dovish bias for a long time yet in order to head off any premature tightening in monetary conditions that would undermine improvement in inflation and the labour market."

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

To read the full story

Close

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.