ANZ with a few thoughts ahead of the Reserve Bank of New Zealand monetary policy meeting later on 29 October 2015
I've paraphrased (lightly), and bolding is mine:
- There is no urgency for the RBNZ to do anything for home grown reasons
- but offshore policy changes are having a big impact on currencies and long term interest rates ... which in turn has implications for us here in New Zealand
- Chief among these is whether we can in fact stand still when everyone else is easing
-
ANZ making the point that economic data is New Zealand is probably not dire enough to justify a further cut from the RBNZ, but on the other hand with easings coming from all over the place offshore (notable ECB signals and PBOC action last week) the bank will factor this in to the policy decision. While the NZD/USD may be softish (arguable) the New Zealand dollar has picked up on the crosses.
-
The RBNZ announcement is due at 2000GMT on Wednesday 28 October 2015, which is 9am local time in NZ on Thursday 29 October 2015.
I'll have more previews as we approach.
