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27 Apr 2016
RBNZ: what to expect this week? - Westpac
Analyst at Westpac noted that Economists are divided but leaning towards no change from the RBNZ on Thursday morning (7amSydney/5pm NY).
Key Quotes:
"Westpac’s base case is also that the next cut, to 2%, will be delivered with the June Monetary Policy Statement instead. But market pricing of about a 30% chance of an easing on Thursday seems reasonable, guaranteeing a sharp move in NZD either way. We look for a steady OCR at 2.25% but a statement that leaves the door wide open to a June move and reiterates complaints about kiwi strength."
Key Quotes:
"Westpac’s base case is also that the next cut, to 2%, will be delivered with the June Monetary Policy Statement instead. But market pricing of about a 30% chance of an easing on Thursday seems reasonable, guaranteeing a sharp move in NZD either way. We look for a steady OCR at 2.25% but a statement that leaves the door wide open to a June move and reiterates complaints about kiwi strength."