Coming up at 0200 GMT, the Reserve Bank of New Zealand announce its bond-buying plans for next week.
Regardless if the RBNZ holds the amounts steady at NZD200m or reduces it a little analysts at BNZ are expecting the program to end soon:
- the days of QE are numbered
The RBNZ meet next week, July 14, BNZ expect the central bank to announce
- a formal end date to purchases at the August MPS or even possibly at the Monetary Policy Report next week
Earlier this week BNZ forecast a cash rate hike from the RBNZ in November. This followed a strong business survey (QSBO). ICYM all the earlier week action, all four of the largest banks in NZ now tipo November, read from the bottom up for the chronology:
- ANZ forecast an RBNZ cash rate hike in November
- WPAC - Another NZ bank forecasts an RBNZ rate hike in November
- In bringing forward its forecast for an RBNZ rate hike in November, BNZ says the time to hike is now
- BNZ now forecast the REBNZ to hike its cash rate in November 2021
- Heads up for NZD traders - the next RBNZ Monetary Policy Review is July 14
- More on NZ banks calling RBNZ rate hikes sooner (ASB forecasting November this year)
- More RBNZ rate hike speculation - sooner rather than later
- ANZ in New Zealand are also calling for RBNZ rate hikes sooner
- NZD/USD on the rise after the QSBO and ASB's RBNZ cash rate hike call
- NZ bank ASB forecasts the RBNZ hiking its cash rate in November this year
- New Zealand QSBO for Q2 2021, business confidence headline 7% (vs. -13% prior)
- NZD traders - heads up for the GDT dairy auction coming up Tuesday London time
- Market pricing for an RBNZ November rate hike is above 70%
