Reserve Bank of New Zealand decision is due at 0200GMT on Wednesday 25 September 2019
- RBNZ monetary policy meeting this week - preview. Jumbo cut and wait.
- NZD: rate meeting surprise on September 25?
Preview via ANZ:
- we expect the RBNZ to leave the OCR on hold as it waits to see the impact of its actions so far, but by November we think they'll be cutting again.
- "Lower for longer" is our forecast, and most other forecasters are broadly on the same page, though not yet calling the OCR as low as we are (just 0.25% by May next year).
More, this via Scotia:
- unanimously expected to hold its official cash rate
- Inflation was last reported for Q2 back on July 15 at 1.7% y/y and below the 2% mid-point of the 1-3% target range. The Q3 inflation reading isn't due out until October 15th.
- Q2 GDP growth was recently released and slightly surpassed expectations
- the RBNZ may prefer to hold its firepower until it sees the next set of inflation readings. That could make November 12th the more likely 'live' meeting