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VIEW: Westpac Comfortable With 50bp May OCR Hike Cal

RBNZ

In the wake of today’s labour market report Westpac note that “for the Reserve Bank, the wage inflation measures are where the rubber meets the road, so in that respect today’s figures present a moderate upside surprise relative to the RBNZ’s February forecasts. That underscores the decision to accelerate the pace of monetary tightening at the April review, and leaves us comfortable with our forecast of another 50 basis point OCR hike at the May review.”

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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