BNZ on the RBA minutes - Statement change to policy outlook language for the first time in years
The Reserve Bank of Australia minutes of the April 2019 meeting are due on 16 April at 0130GMT
Earlier posts on what to expect and on the AUD are here:
- The Reserve Bank of Australia April meeting minutes are due 16 April 2019 - preview
- Goldman Sachs technical analysis of the Australian dollar - AUD/USD basing?
- Westpac update the AUD, NZD outlook - eyeing RBNZ, Fed
This now, a quickie only, via BNZ today:
- The Statement saw a change to the policy outlook language for the first time in years, opening the door to considering a rate cut.
- The market will be trying to glean the rationale for this.
The 'Statement' BNZ refers to here is that from RBA Governor Lowe following the April 2 meeting.
Adding this also from BNZ - on the kiwi:
- Our short-term fair value model estimate has been on a rising trend this year, fuelled by higher risk appetite and NZ commodity prices.
- Fair value currently sits just over the 0.69 mark.