More on the NZD and RBNZ - Shadow Board sees cash rate firmly on no change
The Reserve Bank of New Zealand meet Wednesday 13 February 2019 (NZ time)
I posted earlier on Westpac's view: Some NZD items about as the new week opens - RBNZ seen on hold
This now via the New Zealand Institute of Economic Research (NZIER)
Monetary Policy Shadow Board's looking for the Official Cash Rate (OCR) 'continues to be firmly on no change'
- higher levels of global uncertainty
- rising trade tensions (US -China_
- slower growth concerns in the Chinese economy
Further out … "Recent developments suggest the Reserve Bank will keep the OCR on hold until 2020 as it assesses how the risks will play out."
While the full NZIER report is gated there is a bit more here at their summary
If the NZIER's Monetary Policy Shadow Board is new to you, please note:
- its not related to the RBNZ
- Shadow Board participants show where they think interest rates should be, not what they believe will happen