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VIEW: Westpac: RBNZ Seems Intent On Move to 5.50%

RBNZ

Westpac note that “the bottom line is that the RBNZ seems intent on getting the OCR to the level they saw as sufficiently contractionary back in February – that is, an OCR of 5.50%. Any movements in the OCR beyond that point will be data-dependent, but it seems likely the base case will be for a further 25bp increase at the May Monetary Policy Statement. “

  • “Based on the tone of this release, it’s likely the RBNZ will retain a tightening bias that will be data-dependent and contingent on the economy and inflation pressures evolving as required to bring inflation expeditiously back towards the 1-3% target range.”
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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