Citi expects no change from the RBNZ
What to look out for at 0200 GMT
Citi Research discusses its expectations for this weekend's Xi-Trump meeting and for tonight's RBNZ June policy meeting.
G20 - "This week's focus will turn to the G20 meet between Presidents Trump and Xi. Citi's base case is for a US-China handshake but risk of tariffs remain," Citi projects.
RBNZ meeting - "Citi analysts expect RBNZ to keep the OCR unchanged at 1.50% this week but retain the option of future cuts.
Dovish concerns are driven by the global outlook but domestic activity
remains solid with "employment near its maximum sustainable level". The
policy statement could conclude by saying "we will keep OCR expansionary
for a considerable period to contribute to maximizing sustainable
employment and maintaining low and stable inflation," Citi adds.
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