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VIEW: BNZ note that "The RBNZ has sat firmly...>

RBNZ
RBNZ: VIEW: BNZ note that "The RBNZ has sat firmly on its hands, as we had
anticipated. In short, it did nothing, and intends doing nothing for a while
yet. But, if it does do anything, it will be to increase the size of its
Quantitative Easing (QE) programme rather than lower its cash rate. That said,
the RBNZ did maintain its easing bias and continues to suggest that, despite
recent stronger than expected economic data (read we moved to Level 1 more
quickly than anticipated), the risks to economic activity are weighted to the
downside. If there was something new in today's review it was that the RBNZ
identified the currency as being detrimental to export revenues."
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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