ANZ economists say the chances of the RBNZ holding rates through 2015 “growing by the day”

Not new news, was out this morning:

ANZ economists in their weekly Market Focus report:

• Said that the chances of the RBNZ holding its Official Cash Rate (OCR) at 3.5% through 2015 are growing by the day
• “With a hike priced in by July there is scope for front-end rates to continue drifting lower if the market gravitates to the view the Reserve Bank could be on hold for most of 2015, which is an assessment we are increasingly accepting as the central scenario”
• “The odds of the Reserve Bank sitting out 2015 are growing by the day; this week’s GlobalDairyTrade auction will be key”

Note – the GlobalDairyTrade auction is on Thursday morning (NZ time)