The Reserve Bank of New Zealand monetary policy meeting is July 14.
- The statement will be at 0200 GMT
Earlier preview posts:
- RBNZ policy meeting this week - shadow board evenly split on tighter policy (ps please note this is not actually a preview)
- RBNZ monetary policy meeting this week - preview
Tomorrow's RBNZ meeting is a minor policy review, no change in policy is expected.
The focus is on changes in guidance and the RBNZ commentary, as I posted earlier:
- ASB think the Bank may remove its wording around needing "considerable time and patience" for meeting its targets to lift rates
- UBS is also focused on that line
- There will be no new published forecasts at this review. However, the forward guidance in the press release (which previously signalled that current levels of stimulus will remain in place for a 'considerable' time) is likely to be altered. The RBNZ is likely to start setting the scene for a normalisation of monetary policy, without committing to a particular timing