A preview of the RBNZ monetary policy meeting statement coming Wednesday
A preview of the Reserve Bank of New Zealand 27 March 2019 policy meeting
Announcement due at 0100GMT
Via ASB (this in summary):
- We expect the RBNZ to maintain the OCR at 1.75%, signal its intent to hold the OCR at low levels for a considerable period (likely till 2021) and retain the flexibility to either hike or cut.
- Nevertheless, increased downside global and domestic risks are likely to be acknowledged.
- The risk of an OCR cut remains, but for now we are sticking to our call for the OCR to remain on hold through till early 2021.
ASB on the mark with this, no change is the wide expectation but increasing risks domestically and abroad are heightening the potential for mentions in the statement, if not a dovish tilt from the Bank