The Reserve Bank of New Zealand official Cash Rate announcement, and latest Monetary Policy Statement is due at 9am New Zealand time on Thursday

  • i.e. 2000 GMT on 8 November 2017

This is a quick look at scenarios from Westpac and should be read alongside their preview:

Scenarios:

  1. An unchanged OCR track and an unchanged policy paragraph (a 70% chance we think) should elicit little market reaction.
  2. Our dovish scenario (20% chance) has the OCR track decreased by a modest 10bp. In response, NZD/USD could fall by 0.75c
  3. A hawkish scenario (10% chance) has the OCR track increased by a modest 10bp. In response, NZD/USD could rise by 1.25c

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ps. other previews: