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27 Jan 2016
NZD: RBNZ to follow swiftly on the heels of the FOMC - SocGen
FXStreet (Delhi) – Kit Juckes, Research Analyst at Societe Generale, suggests that the RBNZ policy announcement will follow swiftly on the heels of the FOMC.
Key Quotes
“Bloomberg surveys have a median forecast of rates staying at 2.5% at this meeting and indeed through 2016. For this one, forecasters are unanimous in looking for no change while there is a growing minority looking for a cut later in the year. I suppose then, that if there is a surprise it will be NZD-negative and as such, any short-covering rally in NZD should be modest.
Australian Q4 CPI came in at 2.1%, as expected for the trimmed mean and ticked up to 1.7% on the headline measure.”
Key Quotes
“Bloomberg surveys have a median forecast of rates staying at 2.5% at this meeting and indeed through 2016. For this one, forecasters are unanimous in looking for no change while there is a growing minority looking for a cut later in the year. I suppose then, that if there is a surprise it will be NZD-negative and as such, any short-covering rally in NZD should be modest.
Australian Q4 CPI came in at 2.1%, as expected for the trimmed mean and ticked up to 1.7% on the headline measure.”