VIEW: BNZ write "we'll have a close look at....>

RBNZ: VIEW: BNZ write "we'll have a close look at our forecast interest rate

track with a view to taking out any rate hike in the next year or so. We remain

of the view that a tightening bias would be a much better stance for the RBNZ to

take but there is no point in trying to pretend that a clearly dovish central

bank has any intention of moving in this direction barring a major shock. That

said, we do not believe the evidence will be sufficient to actually cut rates in

May so unless we see weakness in the labour market or falling inflation we will

rail against that view albeit ever mindful that we do not see the justification

for the Bank's current stance either."